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

M&T Bank Corp lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,903 shares of the company’s stock after acquiring an additional 257 shares during the period. M&T Bank Corp’s holdings in DoorDash were worth $2,332,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DASH. Principal Financial Group Inc. grew its position in shares of DoorDash by 25.0% during the third quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after acquiring an additional 18,155 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of DoorDash during the third quarter worth about $69,000. Assetmark Inc. grew its position in shares of DoorDash by 17.4% during the third quarter. Assetmark Inc. now owns 3,519 shares of the company’s stock worth $502,000 after acquiring an additional 522 shares during the last quarter. Covestor Ltd grew its position in shares of DoorDash by 32.0% during the third quarter. Covestor Ltd now owns 1,878 shares of the company’s stock worth $268,000 after acquiring an additional 455 shares during the last quarter. Finally, Long Walk Management LP bought a new position in DoorDash in the 3rd quarter valued at about $16,271,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Trading Down 1.1 %

DASH opened at $178.08 on Monday. The stock has a market capitalization of $74.81 billion, a P/E ratio of 659.56 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.24. The stock has a 50-day moving average price of $186.78 and a 200-day moving average price of $165.90.

Analyst Ratings Changes

A number of brokerages recently issued reports on DASH. Citigroup increased their target price on shares of DoorDash from $211.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group upped their target price on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wedbush increased their price target on DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada increased their price target on DoorDash from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $206.52.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $268,110. This trade represents a 98.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $169.32, for a total value of $1,185,240.00. Following the sale, the chief financial officer now owns 366,993 shares in the company, valued at approximately $62,139,254.76. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 572,062 shares of company stock worth $101,051,440. 7.92% of the stock is currently owned by company insiders.

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.