CIBC Asset Management Inc Acquires 3,380 Shares of DoorDash, Inc. (NASDAQ:DASH)

CIBC Asset Management Inc grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 4.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,203 shares of the company's stock after buying an additional 3,380 shares during the period. CIBC Asset Management Inc's holdings in DoorDash were worth $10,876,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of DASH. Janus Henderson Group PLC raised its position in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company's stock worth $475,837,000 after purchasing an additional 3,425,115 shares during the period. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC lifted its stake in shares of DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company's stock valued at $309,755,000 after buying an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company's stock worth $122,830,000 after acquiring an additional 763,579 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company's stock worth $154,486,000 after acquiring an additional 739,961 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. The trade was a 73.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 324,539 shares of company stock worth $46,439,330. Company insiders own 7.92% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DASH. Raymond James started coverage on DoorDash in a report on Tuesday, September 24th. They issued an "outperform" rating and a $155.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Oppenheimer upped their target price on DoorDash from $145.00 to $160.00 and gave the stock an "outperform" rating in a research note on Friday, September 27th. Finally, Wedbush reissued a "neutral" rating and set a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.03.

DoorDash Stock Down 2.5 %

DoorDash stock traded down $4.37 during mid-day trading on Friday, reaching $169.43. 3,602,035 shares of the company traded hands, compared to its average volume of 3,172,539. DoorDash, Inc. has a 52-week low of $92.56 and a 52-week high of $178.16. The firm's 50 day moving average price is $149.01 and its 200 day moving average price is $126.98.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the previous year, the company earned ($0.19) earnings per share. DoorDash's quarterly revenue was up 25.0% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 0.24 EPS for the current year.

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.