DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,778 shares of the company’s stock after purchasing an additional 4,575 shares during the quarter. CIBC Asset Management Inc’s holdings in DoorDash were worth $13,551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. Baillie Gifford & Co. grew its stake in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Janus Henderson Group PLC grew its stake in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in DoorDash by 5,396.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after acquiring an additional 651,525 shares during the last quarter. Franklin Resources Inc. grew its stake in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in DoorDash by 37.5% in the 4th quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company’s stock valued at $294,701,000 after acquiring an additional 476,360 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DASH. Jefferies Financial Group increased their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on shares of DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Loop Capital increased their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays raised their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Finally, Wedbush raised their price target on shares of DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.45.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the sale, the director now owns 16,176 shares in the company, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at $67,233,117.60. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 817,544 shares of company stock worth $143,328,536. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $211.97 on Wednesday. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The company’s 50 day moving average price is $180.80 and its 200 day moving average price is $159.55. The firm has a market capitalization of $88.05 billion, a price-to-earnings ratio of -471.04, a PEG ratio of 2.04 and a beta of 1.72.

DoorDash Profile

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.