Bank of New York Mellon Corp Trims Position in DoorDash, Inc. (NASDAQ:DASH)

Bank of New York Mellon Corp trimmed its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,454,547 shares of the company's stock after selling 4,990 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of DoorDash worth $244,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DASH. Rakuten Securities Inc. raised its holdings in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after buying an additional 130 shares in the last quarter. Pittenger & Anderson Inc. bought a new position in DoorDash during the fourth quarter valued at approximately $29,000. Denver PWM LLC bought a new stake in shares of DoorDash in the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash in the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of DoorDash during the 4th quarter valued at $36,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 0.3 %

DASH traded down $0.50 during mid-day trading on Monday, reaching $197.94. 3,822,753 shares of the company traded hands, compared to its average volume of 3,584,882. The company's fifty day moving average price is $184.95 and its 200-day moving average price is $163.79. The stock has a market capitalization of $83.15 billion, a P/E ratio of 733.10 and a beta of 1.72. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DASH shares. Truist Financial boosted their target price on DoorDash from $217.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Citigroup increased their target price on shares of DoorDash from $211.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. BMO Capital Markets reissued an "outperform" rating and issued a $240.00 target price (up from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Oppenheimer boosted their price objective on shares of DoorDash from $180.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada raised their target price on shares of DoorDash from $215.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.52.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 15,198 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the completion of the sale, the chief financial officer now owns 351,970 shares of the company's stock, valued at $71,840,596.70. This represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Keith Yandell sold 4,474 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $177.36, for a total transaction of $793,508.64. Following the completion of the transaction, the insider now directly owns 114,238 shares in the company, valued at approximately $20,261,251.68. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 576,536 shares of company stock valued at $101,844,949. 7.92% of the stock is owned by company insiders.

DoorDash 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.