TimesSquare Capital Management LLC Has $59.81 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

TimesSquare Capital Management LLC reduced its position in DoorDash, Inc. (NASDAQ:DASH) by 20.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 356,568 shares of the company’s stock after selling 91,097 shares during the period. TimesSquare Capital Management LLC’s holdings in DoorDash were worth $59,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in shares of DoorDash by 13.2% in the 3rd 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 during the period. State Street Corp increased its stake in shares of DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after buying an additional 272,659 shares during the period. Janus Henderson Group PLC increased its stake in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the period. Geode Capital Management LLC increased its stake in shares of DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after buying an additional 267,855 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $211.97 on Wednesday. The stock has a 50 day moving average price of $180.80 and a 200 day moving average price of $159.55. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The stock has a market capitalization of $88.05 billion, a PE ratio of -471.04, a price-to-earnings-growth ratio of 2.04 and a beta of 1.72.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DASH shares. Evercore ISI lifted their price objective on DoorDash from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $240.00 price objective (up from $180.00) on shares of DoorDash in a research note on Wednesday, February 12th. Royal Bank of Canada lifted their price objective on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays lifted their price objective on DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Finally, UBS Group lifted their price objective on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.45.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now directly owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 5,509 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.24, for a total value of $970,906.16. Following the transaction, the insider now directly owns 118,712 shares of the company’s stock, valued at $20,921,802.88. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 817,544 shares of company stock valued at $143,328,536. Insiders own 7.92% of the company’s stock.

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.