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

Allspring Global Investments Holdings LLC lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 owned 0.29% of DoorDash worth $203,279,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its stake in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. State Street Corp increased its stake in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares in the last quarter. Janus Henderson Group PLC raised its holdings in DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares during the period. Geode Capital Management LLC boosted its position in shares of DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares in the last quarter. Finally, Franklin Resources Inc. increased its position 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 valued at $570,135,000 after buying an additional 501,905 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DASH. Morgan Stanley increased their price target on DoorDash from $160.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Benchmark raised their price objective on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial upped their price objective on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their target price on shares of DoorDash from $161.00 to $192.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Piper Sandler lifted their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $184.55.

DoorDash Price Performance

Shares of DASH opened at $193.09 on Wednesday. The firm has a 50 day simple moving average of $177.52 and a two-hundred day simple moving average of $156.06. DoorDash, Inc. has a one year low of $99.32 and a one year high of $199.17. The company has a market cap of $80.21 billion, a P/E ratio of -429.09, a P/E/G ratio of 2.04 and a beta of 1.72.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now directly owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,040,758 shares of company stock worth $181,434,201 in the last three months. 7.92% of the stock is owned by corporate insiders.

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.