Cibc World Market Inc. Sells 12,528 Shares of DoorDash, Inc. $DASH

Cibc World Market Inc. decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,146 shares of the company’s stock after selling 12,528 shares during the quarter. Cibc World Market Inc.’s holdings in DoorDash were worth $24,040,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intellectus Partners LLC bought a new position in DoorDash in the fourth quarter valued at about $365,000. Lido Advisors LLC increased its stake in shares of DoorDash by 3.7% in the fourth quarter. Lido Advisors LLC now owns 19,592 shares of the company’s stock valued at $4,437,000 after buying an additional 706 shares during the period. Avestar Capital LLC raised its holdings in DoorDash by 9.1% in the 4th quarter. Avestar Capital LLC now owns 8,721 shares of the company’s stock valued at $1,975,000 after buying an additional 730 shares during the last quarter. CIBC Asset Management Inc raised its holdings in DoorDash by 36.0% in the 4th quarter. CIBC Asset Management Inc now owns 162,970 shares of the company’s stock valued at $36,909,000 after buying an additional 43,169 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in DoorDash by 10.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,389,808 shares of the company’s stock worth $541,244,000 after buying an additional 223,926 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Transactions at DoorDash

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

DoorDash Stock Performance

Shares of DASH opened at $160.07 on Friday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a market cap of $69.75 billion, a PE ratio of 76.22 and a beta of 1.83. The stock has a 50-day moving average of $162.32 and a 200-day moving average of $186.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. On average, equities research analysts predict that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DASH. Roth Mkm reiterated a “neutral” rating and set a $200.00 price target on shares of DoorDash in a report on Thursday, February 19th. UBS Group raised their target price on DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Mizuho cut their target price on DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Cantor Fitzgerald reduced their price target on DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Wells Fargo & Company raised their price objective on DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.58.

DoorDash Company Profile

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.