DoorDash, Inc. (NASDAQ:DASH) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 55.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 884 shares of the company’s stock after selling 1,099 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in DoorDash were worth $154,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Pittenger & Anderson Inc. purchased a new position in DoorDash during the fourth quarter worth $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash during the fourth quarter valued at $30,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter worth about $34,000. ORG Wealth Partners LLC acquired a new position in DoorDash in the 4th quarter valued at about $36,000. Finally, IFP Advisors Inc lifted its holdings in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted 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. Piper Sandler restated a “neutral” rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating on shares of DoorDash in a research note on Monday, March 3rd. Finally, Roth Mkm raised their price target on DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the transaction, the general counsel now owns 122,135 shares in the company, valued at $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,523 shares of company stock valued at $47,227,120 in the last three months. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $166.30 on Tuesday. The stock has a market cap of $69.86 billion, a price-to-earnings ratio of 615.93 and a beta of 1.69. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The business’s 50-day simple moving average is $191.57 and its 200 day simple moving average is $174.26.

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.