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

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

Other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares in the last quarter. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash during the fourth quarter worth approximately $29,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash during the fourth quarter worth approximately $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash during the fourth quarter worth approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $155.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a report on Thursday, February 6th. Mizuho lifted their price objective on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Truist Financial lifted their price objective on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.45.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $168.53, for a total value of $3,370,600.00. Following the sale, the chief operating officer now directly owns 925,222 shares in the company, valued at approximately $155,927,663.66. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares in the company, valued at $2,857,652.16. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 817,544 shares of company stock worth $143,328,536. 7.92% of the stock is owned by corporate insiders.

DoorDash Stock Down 0.7 %

Shares of NASDAQ DASH opened at $211.97 on Wednesday. The firm’s 50-day simple moving average is $180.80 and its 200 day simple moving average is $159.55. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The stock has a market cap of $88.05 billion, a P/E ratio of -471.04, a P/E/G ratio of 2.04 and a beta of 1.72.

About DoorDash

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.