Illinois Municipal Retirement Fund Sells 8,697 Shares of DoorDash, Inc. (NASDAQ:DASH)

Illinois Municipal Retirement Fund cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 125,951 shares of the company’s stock after selling 8,697 shares during the period. Illinois Municipal Retirement Fund’s holdings in DoorDash were worth $21,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DASH. International Assets Investment Management LLC bought a new stake in shares of DoorDash during the third quarter valued at about $1,772,000. Ballentine Partners LLC increased its position in shares of DoorDash by 29.8% during the third quarter. Ballentine Partners LLC now owns 2,850 shares of the company’s stock valued at $407,000 after buying an additional 655 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DoorDash by 14.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,676 shares of the company’s stock valued at $10,763,000 after buying an additional 9,359 shares during the period. Forsta AP Fonden increased its position in shares of DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of DoorDash by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,660 shares of the company’s stock valued at $1,664,000 after buying an additional 942 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DASH shares. Oppenheimer upped their price objective on shares of DoorDash from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Loop Capital upped their price objective on shares of DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup upped their price objective on shares of DoorDash from $211.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler restated a “neutral” rating and issued a $210.00 price objective (up from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a research report on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the 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 Trading Down 2.0 %

DASH opened at $195.87 on Tuesday. The stock has a fifty day simple moving average of $182.89 and a two-hundred day simple moving average of $161.81. The company has a market cap of $82.28 billion, a price-to-earnings ratio of 725.44 and a beta of 1.72. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.24.

Insider Activity

In related news, Director Andy Fang sold 1,398 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the sale, the director now directly owns 14,778 shares of the company’s stock, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $179.76, for a total value of $1,258,320.00. Following the sale, the chief financial officer now directly owns 373,993 shares in the company, valued at $67,228,981.68. This trade represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 760,662 shares of company stock worth $134,448,673 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

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.