Corebridge Financial Inc. Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

Corebridge Financial Inc. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,296 shares of the company’s stock after buying an additional 148 shares during the period. Corebridge Financial Inc.’s holdings in DoorDash were worth $4,243,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the 4th quarter worth about $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash during the 4th quarter worth about $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the fourth quarter worth about $34,000. ORG Wealth Partners LLC acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $36,000. Finally, IFP Advisors Inc lifted its stake in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.35, for a total value of $18,454,356.20. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,525. This trade represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now owns 16,176 shares in the company, valued at $2,722,744.32. The trade was a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,445 shares of company stock valued at $62,258,130 in the last three months. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

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

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group lifted their target price on shares of DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Barclays upped their target price on 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 initiated coverage on DoorDash in a research note on Friday. They issued an “outperform” rating and a $230.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Oppenheimer reissued a “hold” rating on shares of DoorDash in a research report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.21.

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.