Norges Bank Buys Shares of 3,561,508 DoorDash, Inc. (NASDAQ:DASH)

Norges Bank purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,561,508 shares of the company’s stock, valued at approximately $597,443,000.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on DoorDash from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Roth Mkm boosted their price objective on shares of DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Royal Bank of Canada upped their price target on DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price objective on DoorDash from $192.00 to $212.00 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-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $207.21.

DoorDash Stock Down 5.9 %

DoorDash stock opened at $182.61 on Friday. The stock has a market cap of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The business’s 50-day simple moving average is $192.00 and its 200 day simple moving average is $171.77.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 8,116 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $1,651,200.20. Following the transaction, the insider now owns 105,162 shares of the company’s stock, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 358,445 shares of company stock valued at $63,443,370. 7.92% of the stock is currently owned by 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.