Toronto Dominion Bank Cuts Stake in DoorDash, Inc. (NYSE:DASH)

Toronto Dominion Bank lowered its position in shares of DoorDash, Inc. (NYSE:DASH) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,869 shares of the company’s stock after selling 4,476 shares during the period. Toronto Dominion Bank’s holdings in DoorDash were worth $4,630,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Crescent Park Management L.P. bought a new stake in DoorDash during the first quarter valued at about $4,255,000. Acadian Asset Management LLC boosted its position in DoorDash by 283.6% during the first quarter. Acadian Asset Management LLC now owns 9,516 shares of the company’s stock valued at $603,000 after purchasing an additional 7,035 shares in the last quarter. Cerity Partners LLC boosted its position in DoorDash by 59.7% during the first quarter. Cerity Partners LLC now owns 19,869 shares of the company’s stock valued at $1,263,000 after purchasing an additional 7,426 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in DoorDash in the first quarter worth about $2,574,000. Finally, Rhumbline Advisers boosted its holdings in DoorDash by 6.2% in the first quarter. Rhumbline Advisers now owns 301,337 shares of the company’s stock worth $19,153,000 after acquiring an additional 17,537 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.

Insider Activity

In other news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $71.87, for a total value of $9,508,401.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $71.87, for a total value of $9,508,401.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $81.00, for a total value of $567,000.00. Following the completion of the sale, the chief financial officer now owns 460,288 shares of the company’s stock, valued at $37,283,328. The disclosure for this sale can be found here. Insiders sold 993,497 shares of company stock worth $77,133,890 over the last three months. 9.59% of the stock is currently owned by corporate insiders.

DoorDash Trading Down 0.1 %

Shares of DASH stock opened at $84.04 on Friday. The stock has a 50 day moving average of $81.32 and a 200 day moving average of $69.51. The stock has a market cap of $33.05 billion, a P/E ratio of -25.70 and a beta of 1.62. DoorDash, Inc. has a twelve month low of $41.37 and a twelve month high of $92.61.

DoorDash (NYSE:DASH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.06 billion. DoorDash had a negative net margin of 16.47% and a negative return on equity of 13.14%. The firm’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.72) earnings per share. On average, research analysts predict that DoorDash, Inc. will post -1.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the subject of several recent analyst reports. Needham & Company LLC raised their price target on DoorDash from $84.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Morgan Stanley raised their price target on DoorDash from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. DA Davidson lowered their price target on DoorDash from $77.00 to $72.00 in a report on Monday, May 8th. Jefferies Financial Group raised their price target on DoorDash from $55.00 to $65.00 and gave the stock an “underperform” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company raised their price target on DoorDash from $70.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.73.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.