Cibc World Market Inc. Has $24.04 Million Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Cibc World Market Inc. trimmed its DoorDash stake by 10.6% in the fourth quarter, selling 12,528 shares and ending with 106,146 shares valued at about $24.04 million.
• Analysts remain mostly bullish on DoorDash, with the stock carrying a Moderate Buy consensus and an average price target of $259.58 despite some recent target cuts and rating changes.
• DoorDash reported Q1 earnings of $0.42 per share, topping estimates, while revenue reached $4.04 billion and rose 33.1% year over year; the stock was up 3.6% and opened at $160.07.

Cibc World Market Inc. decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,146 shares of the company's stock after selling 12,528 shares during the period. Cibc World Market Inc.'s holdings in DoorDash were worth $24,040,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of DoorDash by 21.5% during the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock worth $314,000 after purchasing an additional 303 shares during the period. Empowered Funds LLC increased its holdings in shares of DoorDash by 3.6% during the first quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock worth $1,486,000 after purchasing an additional 285 shares during the period. Sivia Capital Partners LLC raised its position in shares of DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock valued at $1,049,000 after buying an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in shares of DoorDash in the second quarter valued at approximately $222,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DASH shares. Citigroup reduced their price target on DoorDash from $280.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Benchmark upped their target price on DoorDash from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Wells Fargo & Company increased their target price on DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price target on DoorDash in a research report on Tuesday, May 12th. Finally, Zacks Research raised DoorDash from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $259.58.

DoorDash Stock Up 3.6%

NASDAQ DASH opened at $160.07 on Friday. The business has a fifty day moving average price of $162.32 and a two-hundred day moving average price of $186.05. 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 fifty-two week low of $143.30 and a fifty-two week high of $285.50. The stock has a market capitalization of $69.75 billion, a PE ratio of 76.22 and a beta of 1.83.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the company posted $0.44 EPS. The company's revenue for the quarter was up 33.1% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $176.61, for a total value of $220,762.50. Following the transaction, the director owned 31,002 shares in the company, valued at $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 21,739 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares of the company's stock, valued at approximately $148,896,549. The trade was a 2.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 69,808 shares of company stock valued at $11,135,403. Company insiders own 5.83% of the company's stock.

About DoorDash

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.

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