Toronto Dominion Bank Cuts Position in DoorDash, Inc. (NASDAQ:DASH)

Toronto Dominion Bank trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 79.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,064 shares of the company’s stock after selling 178,378 shares during the quarter. Toronto Dominion Bank’s holdings in DoorDash were worth $6,432,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC boosted its holdings in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC grew its position in DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after acquiring an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after purchasing an additional 708,218 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of DASH opened at $175.09 on Friday. DoorDash, Inc. has a 12 month low of $93.33 and a 12 month high of $181.30. The stock has a fifty day moving average price of $164.81 and a 200 day moving average price of $135.57. The company has a market cap of $72.73 billion, a P/E ratio of -389.09, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DASH shares. DA Davidson raised their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, September 19th. Barclays boosted their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price objective on DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Loop Capital upped their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.27.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $143.76, for a total transaction of $7,188,000.00. Following the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,600,474.64. The trade was a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 793,196 shares of company stock worth $131,015,818. 7.92% of the stock is 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.