CIBC Asset Management Inc Has $36.91 Million Stake in DoorDash, Inc. $DASH

CIBC Asset Management Inc boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 36.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,970 shares of the company’s stock after acquiring an additional 43,169 shares during the period. CIBC Asset Management Inc’s holdings in DoorDash were worth $36,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DASH. Norges Bank acquired a new position in DoorDash during the 4th quarter worth $1,093,650,000. Vanguard Group Inc. grew its stake in shares of DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after acquiring an additional 1,522,823 shares during the last quarter. Scge Management L.P. acquired a new stake in shares of DoorDash in the second quarter worth $267,463,000. Invesco Ltd. grew its stake in shares of DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after acquiring an additional 980,148 shares during the last quarter. Finally, State Street Corp grew its stake in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after acquiring an additional 909,125 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DASH. Wells Fargo & Company raised their price target on shares of DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Bank of America upped their price objective on shares of DoorDash from $260.00 to $272.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Sanford C. Bernstein cut their price objective on shares of DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Roth Mkm reaffirmed a “neutral” rating and set a $200.00 price objective on shares of DoorDash in a research report on Thursday, February 19th. Finally, Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $259.58.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 21,433 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the sale, the director owned 19,279 shares of the company’s stock, valued at $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the sale, the director directly owned 31,002 shares in the company, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,808 shares of company stock valued at $11,135,403 over the last 90 days. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Down 1.5%

Shares of DASH opened at $154.58 on Thursday. The company has a 50-day simple moving average of $162.22 and a 200-day simple moving average of $186.38. The firm has a market capitalization of $67.35 billion, a P/E ratio of 73.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities research analysts expect that DoorDash, Inc. will post 2.45 earnings per share for the current year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.