DoorDash, Inc. $DASH Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.3% in the 4th quarter, HoldingsChannel reports. The fund owned 2,389,808 shares of the company’s stock after acquiring an additional 223,926 shares during the period. Bank of New York Mellon Corp’s holdings in DoorDash were worth $541,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in DoorDash by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after acquiring an additional 713,571 shares in the last quarter. State Street Corp grew its holdings in DoorDash by 6.3% during the 3rd quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after acquiring an additional 909,125 shares in the last quarter. Capital World Investors grew its holdings in DoorDash by 0.9% during the 3rd quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock worth $2,955,424,000 after acquiring an additional 95,278 shares in the last quarter. Geode Capital Management LLC grew its holdings in DoorDash by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 8,867,615 shares of the company’s stock worth $2,000,371,000 after acquiring an additional 252,471 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in DoorDash by 18.2% during the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after acquiring an additional 980,148 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Down 1.5%

Shares of NASDAQ:DASH opened at $154.58 on Thursday. The stock has a market cap of $67.35 billion, a P/E ratio of 73.61 and a beta of 1.83. The firm has a fifty day moving average price of $162.22 and a 200 day moving average price of $186.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Sell-side analysts predict that DoorDash, Inc. will post 2.45 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the transaction, the director owned 19,279 shares of the company’s stock, valued at $2,891,850. This represents a 52.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 69,808 shares of company stock worth $11,135,403. Insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on DASH. Sanford C. Bernstein lowered their price target on shares of DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Piper Sandler lowered their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Citizens Jmp lowered their target price on shares of DoorDash from $285.00 to $250.00 and set a “market outperform” rating for the company in a report on Friday, February 20th. Weiss Ratings upgraded shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Evercore set a $300.00 target price on shares of DoorDash in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.58.

DoorDash Profile

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.