DoorDash, Inc. (NASDAQ:DASH) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,296 shares of the company’s stock after acquiring an additional 148 shares during the period. Corebridge Financial Inc.’s holdings in DoorDash were worth $4,243,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in DoorDash during the 4th quarter valued at approximately $146,094,000. Janus Henderson Group PLC boosted its holdings in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares during the period. Amundi grew its position in shares of DoorDash by 65.0% during the fourth quarter. Amundi now owns 1,407,884 shares of the company’s stock worth $244,578,000 after acquiring an additional 554,675 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after acquiring an additional 501,905 shares during the period. Finally, Nordea Investment Management AB lifted its position in DoorDash by 37.5% in the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock valued at $294,701,000 after purchasing an additional 476,360 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $2,459,303.60. Following the transaction, the general counsel now directly owns 122,135 shares of the company’s stock, valued at $24,848,365.75. This represents a 9.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 14,715 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $196.52, for a total value of $2,891,791.80. Following the sale, the chief financial officer now directly owns 338,055 shares of the company’s stock, valued at $66,434,568.60. This trade represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,445 shares of company stock worth $62,258,130 in the last quarter. 7.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on DASH. Oppenheimer restated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Wells Fargo & Company lifted their target price on DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their price target on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial raised their target price on shares of DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Roth Mkm upped their price target on shares of DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.21.

DoorDash Price Performance

NASDAQ DASH opened at $182.61 on Monday. The company has a 50 day simple moving average of $192.00 and a 200-day simple moving average of $172.39. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70.

DoorDash Company Profile

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.