KLP Kapitalforvaltning AS Makes New $17.18 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

KLP Kapitalforvaltning AS purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 102,400 shares of the company’s stock, valued at approximately $17,178,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its position in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC raised its position 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 acquiring an additional 700,465 shares in the last quarter. Geode Capital Management LLC raised its position in DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after acquiring an additional 267,855 shares in the last quarter. Franklin Resources Inc. raised its position in DoorDash by 15.2% in the third 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 in the last quarter. Finally, Two Sigma Advisers LP raised its position in DoorDash by 7.9% in the third quarter. Two Sigma Advisers LP now owns 3,466,100 shares of the company’s stock worth $494,716,000 after acquiring an additional 252,600 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Tia Sherringham sold 12,088 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the transaction, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. The trade was a 9.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $168.53, for a total value of $3,370,600.00. Following the transaction, the chief operating officer now owns 925,222 shares of the company’s stock, valued at approximately $155,927,663.66. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,730 shares of company stock valued at $63,922,178 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DASH shares. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Citigroup restated a “buy” rating on shares of DoorDash in a report on Saturday, March 8th. KeyCorp boosted their price objective on DoorDash from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, UBS Group boosted their price objective on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.52.

DoorDash Stock Down 1.2 %

Shares of DoorDash stock opened at $190.62 on Monday. The stock has a market capitalization of $80.08 billion, a P/E ratio of 706.00 and a beta of 1.70. The stock has a 50 day moving average price of $189.72 and a two-hundred day moving average price of $170.01. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25.

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.