Bank of New York Mellon Corp Sells 4,990 Shares of DoorDash, Inc. (NASDAQ:DASH)

Bank of New York Mellon Corp reduced its position in DoorDash, Inc. (NASDAQ:DASH) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 0.35% of DoorDash worth $244,000,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its position in shares of DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after purchasing an additional 10,755 shares in the last quarter. Swedbank AB grew its holdings in DoorDash by 3.3% during the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after buying an additional 5,539 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock valued at $1,522,000 after buying an additional 3,498 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Finally, LVW Advisors LLC purchased a new stake in shares of DoorDash in the fourth quarter worth about $236,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Tony Xu sold 115,432 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $265,515. The trade was a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tia Sherringham sold 11,694 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $176.91, for a total value of $2,068,785.54. Following the completion of the sale, the general counsel now directly owns 134,223 shares of the company’s stock, valued at $23,745,390.93. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,662 shares of company stock valued at $133,190,353. Insiders own 7.92% of the company’s stock.

DoorDash Stock Down 1.4 %

Shares of DASH opened at $195.84 on Friday. The stock has a market capitalization of $82.27 billion, a P/E ratio of 725.33 and a beta of 1.72. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.24. The firm has a fifty day simple moving average of $184.40 and a two-hundred day simple moving average of $162.77.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wolfe Research upped their target price on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, DA Davidson lifted their price target on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $206.52.

About DoorDash

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.