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

TD Asset Management Inc lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 375,033 shares of the company’s stock after buying an additional 5,023 shares during the period. TD Asset Management Inc’s holdings in DoorDash were worth $92,449,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DASH. Night Squared LP acquired a new position in shares of DoorDash during the 1st quarter worth approximately $2,780,000. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash during the 1st quarter worth approximately $7,200,000. Public Investment Fund raised its position in shares of DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after purchasing an additional 333,369 shares during the last quarter. Ardmore Road Asset Management LP raised its position in shares of DoorDash by 6.7% during the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash during the 1st quarter worth approximately $29,261,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DASH opened at $270.54 on Wednesday. The company’s 50 day simple moving average is $259.03 and its 200 day simple moving average is $228.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 1 year low of $143.37 and a 1 year high of $285.08. The stock has a market capitalization of $115.57 billion, a PE ratio of 150.30 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the company earned ($0.38) EPS. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director directly owned 37,252 shares of the company’s stock, valued at $10,336,312.44. The trade was a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Prabir Adarkar sold 30,000 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the sale, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at $247,476,418.20. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 968,137 shares of company stock worth $241,767,280. 5.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DASH shares. Loop Capital restated a “buy” rating on shares of DoorDash in a research report on Tuesday, July 15th. UBS Group lifted their price objective on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Zacks Research upgraded DoorDash to a “hold” rating in a research report on Tuesday, August 12th. JMP Securities lifted their price objective on DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets boosted their price target on DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $281.29.

DoorDash 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.