CANADA LIFE ASSURANCE Co Acquires 18,667 Shares of DoorDash, Inc. (NASDAQ:DASH)

CANADA LIFE ASSURANCE Co increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 356,009 shares of the company’s stock after purchasing an additional 18,667 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in DoorDash were worth $59,649,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Swedbank AB grew its stake in DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after acquiring an additional 5,539 shares during the period. Sanctuary Advisors LLC grew its position in DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after purchasing an additional 3,498 shares during the period. LVW Advisors LLC bought a new stake in DoorDash during the 4th quarter valued at $236,000. Nordea Investment Management AB increased its stake in DoorDash by 37.5% during the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock valued at $294,701,000 after purchasing an additional 476,360 shares in the last quarter. Finally, Retireful LLC raised its holdings in DoorDash by 121.4% during the fourth quarter. Retireful LLC now owns 9,621 shares of the company’s stock worth $1,614,000 after buying an additional 5,275 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DASH. Royal Bank of Canada lifted their price objective on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. FBN Securities started coverage on DoorDash in a research note on Friday, March 28th. They issued an “outperform” rating and a $230.00 price objective for the company. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Bank of America lowered their price target on DoorDash from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley cut their price objective on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday. Ten equities research 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 a consensus rating of “Moderate Buy” and an average price target of $208.88.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $180.83, for a total value of $3,616,600.00. Following the completion of the transaction, the chief operating officer now directly owns 925,222 shares in the company, valued at approximately $167,307,894.26. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,511 shares of company stock worth $30,308,544. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $181.24 on Friday. The firm has a 50 day simple moving average of $189.13 and a two-hundred day simple moving average of $176.17. The stock has a market cap of $76.14 billion, a PE ratio of 671.26 and a beta of 1.69. DoorDash, Inc. has a one year low of $99.32 and a one year 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.