Bank of New York Mellon Corp Acquires 23,498 Shares of DoorDash, Inc. $DASH

Bank of New York Mellon Corp increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,165,882 shares of the company’s stock after purchasing an additional 23,498 shares during the quarter. Bank of New York Mellon Corp’s holdings in DoorDash were worth $589,098,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GFG Capital LLC acquired a new position in shares of DoorDash in the second quarter valued at approximately $30,000. Sound Income Strategies LLC lifted its position in DoorDash by 2,760.0% in the 3rd quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after acquiring an additional 138 shares in the last quarter. Asset Planning Inc acquired a new position in DoorDash in the 3rd quarter worth $50,000. CX Institutional increased its holdings in DoorDash by 3,660.0% during the 3rd quarter. CX Institutional now owns 188 shares of the company’s stock worth $51,000 after purchasing an additional 183 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of DoorDash by 233.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 190 shares of the company’s stock valued at $52,000 after purchasing an additional 133 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Alfred Lin purchased 389,047 shares of the stock in a transaction on Tuesday, November 25th. The shares were purchased at an average price of $193.81 per share, with a total value of $75,401,199.07. Following the completion of the transaction, the director directly owned 389,047 shares in the company, valued at $75,401,199.07. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 288,410 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 232,040 shares in the company, valued at $45,489,121.60. This represents a 55.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 632,885 shares of company stock valued at $133,222,817 in the last three months. Corporate insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DASH. Susquehanna reduced their price objective on DoorDash from $300.00 to $250.00 and set a “positive” rating for the company in a research report on Friday, November 7th. UBS Group raised DoorDash from a “buy” rating to a “mixed” rating in a research report on Tuesday, January 20th. KeyCorp lowered their price objective on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald raised their target price on shares of DoorDash from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $280.43.

DoorDash Price Performance

Shares of DASH opened at $206.66 on Thursday. The company has a market cap of $89.07 billion, a price-to-earnings ratio of 104.90 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50. The company’s fifty day simple moving average is $217.05 and its 200 day simple moving average is $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.

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

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.