Bank of New York Mellon Corp Sells 4,990 Shares of DoorDash, Inc. (NASDAQ:DASH)

Bank of New York Mellon Corp cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,454,547 shares of the company’s stock after selling 4,990 shares during the quarter. Bank of New York Mellon Corp’s holdings in DoorDash were worth $244,000,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. increased its stake in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of DoorDash by 5,396.1% during the third 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 in the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after acquiring an additional 501,905 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Tia Sherringham sold 12,088 shares of DoorDash 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the transaction, the chief financial officer now owns 351,970 shares of the company’s stock, valued at approximately $71,840,596.70. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 753,662 shares of company stock valued at $133,190,353. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Down 1.4 %

Shares of DoorDash stock opened at $195.84 on Friday. The company has a market capitalization of $82.27 billion, a price-to-earnings ratio of 725.33 and a beta of 1.72. The stock’s 50-day simple moving average is $184.40 and its 200-day simple moving average is $162.77. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.24.

Analysts Set New Price Targets

A number of research firms have commented on DASH. Wedbush lifted their target price on DoorDash from $160.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Evercore ISI lifted their price objective on DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Barclays upped their target price on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Benchmark lifted their price target on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Wolfe Research increased their price objective on shares of DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.52.

DoorDash Company 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.