Allspring Global Investments Holdings LLC Buys 109,766 Shares of DoorDash, Inc. (NASDAQ:DASH)

Allspring Global Investments Holdings LLC raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,192,128 shares of the company’s stock after purchasing an additional 109,766 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DoorDash were worth $203,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Advisors Inc. OK grew its stake in shares of DoorDash by 23.4% in the 4th quarter. Capital Advisors Inc. OK now owns 251,397 shares of the company’s stock valued at $42,172,000 after buying an additional 47,619 shares during the period. Certuity LLC boosted its holdings in DoorDash by 5.2% in the fourth quarter. Certuity LLC now owns 6,823 shares of the company’s stock worth $1,145,000 after acquiring an additional 338 shares in the last quarter. Cigna Investments Inc. New grew its stake in DoorDash by 3.0% in the fourth quarter. Cigna Investments Inc. New now owns 3,564 shares of the company’s stock valued at $598,000 after acquiring an additional 103 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $287,000. Finally, Summit Trail Advisors LLC raised its position in shares of DoorDash by 6.4% during the fourth quarter. Summit Trail Advisors LLC now owns 41,217 shares of the company’s stock worth $6,914,000 after purchasing an additional 2,487 shares during the period. 90.64% of the stock is owned by institutional investors.

Insider Activity at DoorDash

In related news, General Counsel Tia Sherringham sold 12,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the sale, the general counsel now directly owns 145,917 shares of the company’s stock, valued at $24,802,971.66. This trade represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 115,432 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $265,515. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,040,758 shares of company stock worth $181,434,201. 7.92% of the stock is owned by company insiders.

DoorDash Price Performance

Shares of DASH stock opened at $193.09 on Wednesday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $199.17. The company’s fifty day simple moving average is $177.52 and its two-hundred day simple moving average is $156.06. The stock has a market capitalization of $80.21 billion, a price-to-earnings ratio of -429.09, a PEG ratio of 2.04 and a beta of 1.72.

Analyst Ratings Changes

DASH has been the subject of several research reports. DA Davidson lifted their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Truist Financial raised their price objective on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Wells Fargo & Company boosted their target price on shares of DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. 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 report on Monday, January 13th. Finally, Bank of America boosted their price objective on DoorDash from $172.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.55.

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.