TD Asset Management Inc Decreases Stake in DoorDash, Inc. $DASH

TD Asset Management Inc lowered its stake in DoorDash, Inc. (NASDAQ:DASH) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 374,114 shares of the company’s stock after selling 6,042 shares during the period. TD Asset Management Inc owned 0.09% of DoorDash worth $84,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of DoorDash by 5.0% in the third quarter. American Century Companies Inc. now owns 485,088 shares of the company’s stock worth $131,941,000 after buying an additional 22,944 shares during the last quarter. Caprock Group LLC purchased a new position in shares of DoorDash in the third quarter worth $3,169,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of DoorDash in the fourth quarter worth $41,712,000. Intech Investment Management LLC raised its holdings in shares of DoorDash by 707.8% in the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after buying an additional 221,985 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DoorDash by 7.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company’s stock worth $219,276,000 after buying an additional 53,722 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 2,643 shares of DoorDash stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the transaction, the insider owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the transaction, the director directly owned 19,279 shares of the company’s stock, valued at $2,891,850. The trade was a 52.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 69,808 shares of company stock valued at $11,135,403 over the last quarter. Insiders own 5.83% of the company’s stock.

DoorDash Trading Up 3.6%

Shares of DoorDash stock opened at $160.07 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a fifty day moving average price of $162.32 and a 200 day moving average price of $186.05. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The stock has a market cap of $69.75 billion, a PE ratio of 76.22 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company posted $0.44 earnings per share. The firm’s revenue was up 33.1% compared to the same quarter last year. Equities research analysts predict that DoorDash, Inc. will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on DASH. KeyCorp raised their price target on shares of DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. DA Davidson decreased their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a report on Tuesday, May 12th. Finally, BTIG Research reissued a “buy” rating and set a $280.00 target price on shares of DoorDash in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $259.58.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.