M&T Bank Corp Boosts Stock Holdings in DoorDash, Inc. $DASH

M&T Bank Corp grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 60.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,346 shares of the company’s stock after purchasing an additional 7,665 shares during the period. M&T Bank Corp’s holdings in DoorDash were worth $5,015,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Saudi Central Bank purchased a new stake in DoorDash during the 1st quarter valued at $25,000. WPG Advisers LLC bought a new position in shares of DoorDash in the first quarter worth about $26,000. Pacific Center for Financial Services purchased a new position in DoorDash during the first quarter valued at approximately $27,000. GFG Capital LLC purchased a new position in shares of DoorDash during the 2nd quarter valued at $30,000. Finally, Harbour Investments Inc. boosted its stake in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after acquiring an additional 70 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Performance

DoorDash stock opened at $221.19 on Friday. The company’s 50-day moving average price is $238.04 and its 200-day moving average price is $238.73. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The company has a market cap of $95.33 billion, a PE ratio of 112.28 and a beta of 1.72. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The company’s revenue was up 27.3% on a year-over-year basis. On average, equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity

In related news, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total value of $56,539,896.40. Following the completion of the sale, the chief executive officer directly owned 232,040 shares in the company, valued at $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction on Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the transaction, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at $247,476,418.20. The trade was a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 679,563 shares of company stock worth $152,902,593. Company insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent analyst reports. Bank of America reduced their price objective on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. UBS Group cut their target price on shares of DoorDash from $316.00 to $241.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Barclays reduced their price target on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Wedbush raised shares of DoorDash from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $260.00 in a report on Thursday, November 13th. Finally, Jefferies Financial Group upgraded DoorDash from a “hold” rating to a “buy” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.62.

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.