TD Asset Management Inc Cuts Holdings in DoorDash, Inc. $DASH

TD Asset Management Inc decreased its position in DoorDash, Inc. (NASDAQ:DASH) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 374,114 shares of the company’s stock after selling 6,042 shares during the period. TD Asset Management Inc’s holdings in DoorDash were worth $84,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its holdings in DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after buying an additional 71 shares in the last quarter. Eastern Bank increased its holdings in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in DoorDash in the fourth quarter valued at $29,000. Finally, Morse Asset Management Inc acquired a new stake in shares of DoorDash in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

DASH opened at $160.07 on Friday. The firm has a market capitalization of $69.75 billion, a PE ratio of 76.22 and a beta of 1.83. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The firm’s 50-day moving average price is $162.32 and its 200 day moving average price is $186.05. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DASH. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of DoorDash in a research report on Thursday, May 7th. DA Davidson dropped their target price on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $280.00 target price on shares of DoorDash in a research report on Thursday, May 7th. Moffett Nathanson set a $276.00 target price on shares of DoorDash in a research report on Wednesday, April 15th. Finally, Benchmark lifted their target price on shares of DoorDash from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.58.

Insider Activity

In related news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the transaction, the director directly owned 31,002 shares in the company, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the transaction, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. 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 sold a total of 69,808 shares of company stock valued at $11,135,403 in the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

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.