DoorDash, Inc. (NASDAQ:DASH) Stock Holdings Decreased by M&T Bank Corp

M&T Bank Corp reduced its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,681 shares of the company's stock after selling 1,222 shares during the period. M&T Bank Corp's holdings in DoorDash were worth $2,318,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. ORG Partners LLC grew its position in DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC grew its position in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. grew its position in DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in DoorDash during the first quarter valued at approximately $56,000. Finally, Summit Securities Group LLC purchased a new position in DoorDash during the fourth quarter valued at approximately $63,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of DoorDash stock opened at $240.44 on Friday. The firm has a market capitalization of $101.88 billion, a PE ratio of 312.26 and a beta of 1.70. The company's fifty day moving average price is $216.76 and its two-hundred day moving average price is $196.04. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly 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. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. Analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 34,167 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total value of $8,222,630.22. Following the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at $125,251,497. The trade was a 6.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. This trade represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 429,031 shares of company stock worth $94,584,086. 5.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DASH shares. Oppenheimer boosted their price objective on shares of DoorDash from $220.00 to $280.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. DA Davidson lifted 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. Bank of America lifted their target price on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. BMO Capital Markets reiterated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Finally, Raymond James Financial upgraded shares of DoorDash from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $215.00 to $260.00 in a research note on Monday, June 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $220.53.

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.

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