Principal Financial Group Inc. Raises Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Principal Financial Group Inc. boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,382 shares of the company’s stock after acquiring an additional 2,596 shares during the period. Principal Financial Group Inc.’s holdings in DoorDash were worth $15,665,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. grew its stake in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in DoorDash during the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC bought a new stake in DoorDash during the fourth quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB lifted its position in DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after purchasing an additional 69 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in DoorDash during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 115,432 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $265,515. This represents a 98.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Yandell sold 8,116 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now directly owns 105,162 shares in the company, valued at $21,395,208.90. This trade represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 760,662 shares of company stock valued at $134,448,673 in the last three months. 7.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of DoorDash from $200.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of DoorDash in a research report on Thursday, February 6th. Needham & Company LLC lifted their target price on shares of DoorDash from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Bank of America boosted their price objective on shares of DoorDash from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.52.

DoorDash Trading Down 2.3 %

Shares of DoorDash stock opened at $191.27 on Wednesday. The company’s fifty day simple moving average is $183.18 and its two-hundred day simple moving average is $162.29. The company has a market cap of $80.35 billion, a P/E ratio of 708.41 and a beta of 1.72. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.24.

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.