CIBC Asset Management Inc Raises Position in DoorDash, Inc. (NYSE:DASH)

CIBC Asset Management Inc increased its holdings in DoorDash, Inc. (NYSE:DASH) by 11.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,098 shares of the company’s stock after buying an additional 1,387 shares during the period. CIBC Asset Management Inc’s holdings in DoorDash were worth $2,698,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DASH. Envestnet Asset Management Inc. raised its position in shares of DoorDash by 232.0% in the second quarter. Envestnet Asset Management Inc. now owns 13,309 shares of the company’s stock worth $2,373,000 after buying an additional 9,300 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of DoorDash by 40.5% in the second quarter. PNC Financial Services Group Inc. now owns 524 shares of the company’s stock worth $93,000 after buying an additional 151 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of DoorDash by 28.1% in the second quarter. Rafferty Asset Management LLC now owns 6,564 shares of the company’s stock worth $1,171,000 after buying an additional 1,439 shares in the last quarter. Citigroup Inc. raised its position in shares of DoorDash by 144.6% in the second quarter. Citigroup Inc. now owns 45,803 shares of the company’s stock worth $8,168,000 after buying an additional 148,466 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of DoorDash in the second quarter worth $14,226,000. Institutional investors own 75.11% of the company’s stock.

In other news, CAO Gordon S. Lee sold 5,709 shares of DoorDash stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $200.93, for a total transaction of $1,147,109.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Fast (Cayman) Ltd Svf sold 10,000,000 shares of DoorDash stock in a transaction that occurred on Wednesday, October 27th. The shares were sold at an average price of $202.81, for a total transaction of $2,028,100,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,677,286 shares of company stock worth $2,152,024,064. Insiders own 15.54% of the company’s stock.

A number of research firms have weighed in on DASH. Gordon Haskett upgraded DoorDash from a “hold” rating to a “buy” rating and lowered their price target for the company from $230.00 to $217.00 in a research report on Wednesday, December 1st. Piper Sandler raised their price target on DoorDash from $221.00 to $227.00 and gave the company a “neutral” rating in a research report on Wednesday, November 10th. Royal Bank of Canada raised their price target on DoorDash from $210.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, November 10th. KGI Securities upgraded DoorDash from a “neutral” rating to an “outperform” rating in a research report on Monday, November 22nd. Finally, Truist Securities raised their price target on DoorDash from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $228.68.

NYSE DASH opened at $131.53 on Friday. The stock has a market capitalization of $45.12 billion and a PE ratio of -36.43. DoorDash, Inc. has a 1 year low of $110.13 and a 1 year high of $257.25. The business’s 50-day moving average is $169.39 and its 200 day moving average is $186.09.

DoorDash (NYSE:DASH) last posted its quarterly earnings data on Tuesday, November 9th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.03). The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, equities analysts anticipate that DoorDash, Inc. will post -1.18 EPS for the current year.

DoorDash Profile

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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