TD Asset Management Inc Trims Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

TD Asset Management Inc decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430,099 shares of the company’s stock after selling 27,741 shares during the quarter. TD Asset Management Inc owned about 0.11% of DoorDash worth $46,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of DoorDash by 102.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after purchasing an additional 100,787 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of DoorDash during the first quarter valued at about $2,969,000. Bank of Nova Scotia lifted its holdings in shares of DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after buying an additional 139,450 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after acquiring an additional 1,200,181 shares during the period. Finally, D L Carlson Investment Group Inc. purchased a new position in DoorDash during the fourth quarter valued at approximately $2,421,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $123.56 on Friday. The company has a market capitalization of $50.53 billion, a P/E ratio of -114.41, a PEG ratio of 768.41 and a beta of 1.69. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The stock has a 50 day moving average price of $116.66 and a two-hundred day moving average price of $120.96.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.44) earnings per share.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial increased their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Argus started coverage on DoorDash in a research report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Cantor Fitzgerald assumed coverage on DoorDash in a research report on Thursday. They set an “overweight” rating and a $160.00 target price for the company. JMP Securities raised their price target on DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Finally, Roth Mkm lifted their price target on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $142.57.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other DoorDash news, CEO Tony Xu sold 131,590 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 436,359 shares of company stock worth $48,534,873. Company insiders own 7.92% of the company’s stock.

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.