Caisse DE Depot ET Placement DU Quebec Increases Holdings in DoorDash, Inc. (NASDAQ:DASH)

Caisse DE Depot ET Placement DU Quebec boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 75.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 444,862 shares of the company’s stock after buying an additional 191,213 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in DoorDash were worth $74,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DASH. Vanguard Group Inc. increased its stake in shares of DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after acquiring an additional 317,502 shares during the period. Capital World Investors grew its position in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Franklin Resources Inc. raised its stake in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after buying an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after buying an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of DoorDash by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock valued at $763,198,000 after buying an additional 86,667 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the transaction, the director now owns 18,285 shares of the company’s stock, valued at $3,313,424.85. This trade represents a 71.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Tia Sherringham sold 12,088 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,511 shares of company stock worth $30,394,673 over the last ninety days. Corporate insiders own 7.92% of the company’s stock.

DoorDash Trading Up 1.7 %

Shares of NASDAQ DASH opened at $196.20 on Friday. The company has a 50-day moving average of $185.23 and a 200 day moving average of $178.99. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The stock has a market cap of $82.42 billion, a PE ratio of 726.67 and a beta of 1.69.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DASH. Needham & Company LLC reiterated a “buy” rating on shares of DoorDash in a research report on Monday, March 3rd. Benchmark reaffirmed a “buy” rating on shares of DoorDash in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $225.00 target price on shares of DoorDash in a research note on Monday. Wedbush raised their price target on shares of DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.66.

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.