Toronto Dominion Bank Decreases Position in DoorDash, Inc. (NASDAQ:DASH)

Toronto Dominion Bank trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 79.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,064 shares of the company's stock after selling 178,378 shares during the period. Toronto Dominion Bank's holdings in DoorDash were worth $6,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company's stock valued at $1,122,000 after purchasing an additional 82 shares during the period. Everhart Financial Group Inc. lifted its holdings in shares of DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company's stock worth $355,000 after buying an additional 99 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in shares of DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company's stock valued at $355,000 after acquiring an additional 111 shares during the period. Venturi Wealth Management LLC grew its stake in DoorDash by 39.0% during the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company's stock valued at $61,000 after acquiring an additional 119 shares in the last quarter. Finally, Rakuten Securities Inc. increased its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock worth $25,000 after acquiring an additional 130 shares during the period. Institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DASH. BMO Capital Markets boosted their price target on shares of DoorDash from $140.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. BTIG Research upgraded DoorDash from a "neutral" rating to a "buy" rating and set a $155.00 target price for the company in a research report on Thursday, September 19th. Wells Fargo & Company raised their price target on DoorDash from $127.00 to $142.00 and gave the company an "equal weight" rating in a report on Friday, October 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. Finally, Truist Financial raised their target price on shares of DoorDash from $170.00 to $180.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $167.27.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares of the company's stock, valued at approximately $2,710,274.87. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 108,334 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total value of $19,507,703.38. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $270,105. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 793,196 shares of company stock worth $131,015,818. Company insiders own 7.92% of the company's stock.

DoorDash Price Performance

DoorDash stock traded down $0.93 during mid-day trading on Friday, reaching $175.09. 2,305,444 shares of the company traded hands, compared to its average volume of 3,730,281. DoorDash, Inc. has a 52-week low of $93.33 and a 52-week high of $181.30. The firm has a market capitalization of $72.73 billion, a price-to-earnings ratio of -389.09, a P/E/G ratio of 13.56 and a beta of 1.70. The firm's 50 day moving average price is $164.81 and its 200 day moving average price is $135.73.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the previous year, the company earned ($0.19) earnings per share. DoorDash's quarterly revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

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.