CIBC Asset Management Inc Grows Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

CIBC Asset Management Inc increased its stake in DoorDash, Inc. (NASDAQ:DASHFree Report) by 594.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,591 shares of the company’s stock after buying an additional 51,869 shares during the period. CIBC Asset Management Inc’s holdings in DoorDash were worth $5,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. Norges Bank purchased a new stake in shares of DoorDash during the fourth quarter valued at approximately $264,806,000. Franklin Resources Inc. lifted its position in DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after purchasing an additional 1,200,181 shares during the period. Assenagon Asset Management S.A. boosted its holdings in DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the last quarter. Los Angeles Capital Management LLC grew its position in DoorDash by 40,319.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock worth $102,805,000 after purchasing an additional 1,037,020 shares during the period. Finally, Vanguard Group Inc. raised its stake in DoorDash by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock valued at $2,149,149,000 after buying an additional 781,861 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DASH. BMO Capital Markets dropped their price target on DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Susquehanna raised their target price on DoorDash from $110.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, February 20th. Benchmark reduced their price target on shares of DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Roth Mkm reduced their price objective on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Citigroup raised their target price on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.28.

View Our Latest Report on DASH

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 5,000 shares of DoorDash stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $138.98, for a total value of $694,900.00. Following the completion of the sale, the chief financial officer now owns 391,425 shares of the company’s stock, valued at $54,400,246.50. The disclosure for this sale can be found here. Insiders sold a total of 437,235 shares of company stock valued at $58,322,937 in the last three months. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $110.58 on Thursday. The stock has a 50 day moving average price of $123.61 and a 200 day moving average price of $115.36. The firm has a market capitalization of $45.22 billion, a P/E ratio of -102.39, a P/E/G ratio of 28.14 and a beta of 1.69. DoorDash, Inc. has a 52-week low of $67.95 and a 52-week high of $143.34.

DoorDash (NASDAQ:DASHGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period last year, the company earned ($0.41) earnings per share. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.11 EPS for the current year.

About DoorDash

(Free Report)

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.

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Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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