Bank of New York Mellon Corp Has $589.10 Million Stake in DoorDash, Inc. $DASH

Bank of New York Mellon Corp grew its position in DoorDash, Inc. (NASDAQ:DASH) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,165,882 shares of the company’s stock after acquiring an additional 23,498 shares during the period. Bank of New York Mellon Corp owned 0.51% of DoorDash worth $589,098,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of DASH. Vanguard Group Inc. grew its holdings in shares of DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares during the last quarter. State Street Corp raised its holdings in shares of DoorDash by 3.1% in the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after buying an additional 427,722 shares during the last quarter. Geode Capital Management LLC lifted its position in DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after buying an additional 223,188 shares in the last quarter. Invesco Ltd. grew its holdings in DoorDash by 12.0% during the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after acquiring an additional 575,629 shares during the last quarter. Finally, Norges Bank bought a new stake in DoorDash during the 2nd quarter worth about $1,185,576,000. 90.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Tony Xu sold 288,410 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $196.04, for a total value of $56,539,896.40. Following the completion of the transaction, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. The trade was a 55.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $205.07, for a total transaction of $9,312,228.70. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 632,885 shares of company stock valued at $133,222,817. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group reduced their price objective on DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a report on Friday, November 7th. BTIG Research reissued a “buy” rating and issued a $315.00 target price on shares of DoorDash in a research note on Thursday, November 6th. KeyCorp cut their price target on DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Finally, Needham & Company LLC lowered their price objective on DoorDash from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $280.43.

DoorDash Trading Down 0.3%

NASDAQ DASH opened at $206.66 on Thursday. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50. The stock has a 50-day simple moving average of $217.05 and a 200 day simple moving average of $238.46. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $89.07 billion, a PE ratio of 104.90 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.DoorDash’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Research analysts forecast that DoorDash, Inc. will post 2.22 EPS 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.