DoorDash, Inc. (NASDAQ:DASH) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 45.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,112,527 shares of the company's stock after acquiring an additional 657,980 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.50% of DoorDash worth $386,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock valued at $5,254,501,000 after purchasing an additional 317,502 shares in the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after purchasing an additional 86,667 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent analyst reports. Benchmark raised their target price on shares of DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of DoorDash in a research note on Thursday, June 12th. DA Davidson raised their target price on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Evercore ISI restated an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Finally, Roth Capital set a $191.00 target price on shares of DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $220.53.

Insiders Place Their Bets

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the sale, the director owned 26,070 shares in the company, valued at $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ravi Inukonda sold 20,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the transaction, the chief financial officer owned 245,530 shares in the company, valued at $60,645,910. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,781 shares of company stock valued at $94,277,848. 5.83% of the stock is owned by company insiders.

DoorDash Trading Up 3.4%

DASH traded up $8.10 on Monday, reaching $246.89. The stock had a trading volume of 5,708,387 shares, compared to its average volume of 4,249,586. The business's 50-day moving average price is $211.96 and its two-hundred day moving average price is $193.89. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74. The company has a market cap of $104.62 billion, a P/E ratio of 320.64 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, analysts predict that DoorDash, Inc. will post 2.22 earnings per share 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.