DoorDash, Inc. (NASDAQ:DASH) Holdings Trimmed by Cibc World Markets Corp

Cibc World Markets Corp trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 14.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,542 shares of the company’s stock after selling 3,678 shares during the period. Cibc World Markets Corp’s holdings in DoorDash were worth $3,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at $29,000. Denver PWM LLC purchased a new position in shares of DoorDash during the 4th quarter valued at $30,000. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the 4th quarter valued at $34,000. ORG Wealth Partners LLC purchased a new position in shares of DoorDash during the 4th quarter valued at $36,000. Finally, IFP Advisors Inc grew its holdings in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after acquiring an additional 54 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DASH has been the topic of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $240.00 price target (up from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Morgan Stanley boosted their price target on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup reaffirmed a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Wells Fargo & Company lifted their price objective on shares of DoorDash from $166.00 to $198.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.52.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 8,116 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the sale, the insider now directly owns 105,162 shares of the company’s stock, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the sale, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 363,730 shares of company stock valued at $63,922,178 over the last quarter. 7.92% of the stock is owned by company insiders.

DoorDash Stock Up 2.9 %

NASDAQ DASH opened at $190.66 on Thursday. The stock has a market cap of $80.10 billion, a P/E ratio of 706.15 and a beta of 1.70. The company’s 50-day simple moving average is $188.93 and its 200 day simple moving average is $168.79. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25.

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.