Russell Investments Group Ltd. Purchases 363,720 Shares of DoorDash, Inc. (NASDAQ:DASH)

Russell Investments Group Ltd. raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 87.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 781,011 shares of the company’s stock after purchasing an additional 363,720 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of DoorDash worth $131,410,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its position in DoorDash by 6.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 92,012 shares of the company’s stock valued at $15,435,000 after acquiring an additional 5,617 shares during the last quarter. Aviva PLC boosted its position in DoorDash by 1,306.8% in the fourth quarter. Aviva PLC now owns 186,790 shares of the company’s stock valued at $31,334,000 after buying an additional 173,512 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of DoorDash during the fourth quarter worth $15,134,000. Prudential PLC increased its holdings in shares of DoorDash by 33.5% during the fourth quarter. Prudential PLC now owns 6,871 shares of the company’s stock worth $1,153,000 after buying an additional 1,723 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its holdings in shares of DoorDash by 39.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 85,917 shares of the company’s stock valued at $14,413,000 after acquiring an additional 24,466 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. The trade was a 71.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now directly owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,523 shares of company stock worth $47,227,120 in the last quarter. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Down 6.2 %

DASH stock opened at $163.16 on Friday. The firm has a market cap of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. The business has a 50 day moving average of $191.90 and a 200-day moving average of $173.46. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DASH shares. BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 target price (up from $180.00) on shares of DoorDash in a research report on Wednesday, February 12th. Bank of America boosted their target price on shares of DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their price objective on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald lifted their target price on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.29.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.