Bank of Nova Scotia Sells 311,696 Shares of DoorDash, Inc. $DASH

Bank of Nova Scotia reduced its position in DoorDash, Inc. (NASDAQ:DASH) by 51.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 298,306 shares of the company’s stock after selling 311,696 shares during the period. Bank of Nova Scotia owned 0.07% of DoorDash worth $73,535,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of DoorDash in the second quarter worth about $1,185,576,000. Vanguard Group Inc. boosted its holdings in DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after buying an additional 1,792,799 shares during the period. AQR Capital Management LLC boosted its holdings in DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after buying an additional 1,497,636 shares during the period. Invesco Ltd. grew its stake in DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after buying an additional 1,416,194 shares in the last quarter. Finally, Nuveen LLC bought a new stake in DoorDash during the 1st quarter valued at $211,415,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $225.00 on Monday. The company’s fifty day moving average price is $237.29 and its 200-day moving average price is $239.36. The firm has a market capitalization of $96.98 billion, a price-to-earnings ratio of 114.21 and a beta of 1.72. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.DoorDash’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen lowered DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating in a report on Wednesday, November 19th. Royal Bank Of Canada reduced their target price on DoorDash from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Truist Financial increased their price target on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Bank of America cut their price objective on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $275.62.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 30,000 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $270.60, for a total value of $8,118,000.00. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $247,476,418.20. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 679,563 shares of company stock worth $152,902,593 over the last quarter. Company insiders own 5.83% of the company’s stock.

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.