Franklin Resources Inc. Increases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Franklin Resources Inc. raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,749,810 shares of the company’s stock after acquiring an additional 949,414 shares during the period. Franklin Resources Inc. owned 1.14% of DoorDash worth $796,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after purchasing an additional 317,502 shares during the period. State Street Corp lifted 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 valued at $1,055,616,000 after purchasing an additional 272,659 shares during the period. Janus Henderson Group PLC lifted 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 valued at $789,766,000 after purchasing an additional 700,465 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in 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 purchasing an additional 1,869,866 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of DoorDash by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after buying an additional 267,855 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on DASH. JPMorgan Chase & Co. increased their price objective on DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Barclays raised their price objective on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. FBN Securities started coverage on shares of DoorDash in a report on Friday. They issued an “outperform” rating and a $230.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.21.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $182.61 on Monday. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The company has a 50 day moving average price of $192.00 and a 200 day moving average price of $172.39.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 12,088 shares of the firm’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 approximately $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $170.35, for a total transaction of $18,454,356.20. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,525. This represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,445 shares of company stock valued at $62,258,130 over the last three months. Company insiders own 7.92% of the company’s stock.

DoorDash 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.