TD Asset Management Inc Acquires 12,235 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• TD Asset Management Inc increased its holdings in DoorDash, Inc. by 3.4% during the first quarter, owning a total of 370,010 shares valued at approximately $67.6 million.
• DoorDash's stock is currently trading at $249.92 with a market cap of $105.90 billion and has seen a significant rise from a twelve-month low of $102.81 to a high of $250.23.
• Analysts have raised their price targets for DoorDash, with Benchmark setting a target of $260 and Raymond James increasing theirs to $275, while the stock currently holds a consensus rating of "Moderate Buy".

TD Asset Management Inc boosted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 370,010 shares of the company's stock after purchasing an additional 12,235 shares during the quarter. TD Asset Management Inc owned about 0.09% of DoorDash worth $67,627,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DASH. ORG Partners LLC boosted its stake in DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC boosted its stake in DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the period. Washington Trust Advisors Inc. bought a new stake in DoorDash in the 1st quarter valued at $56,000. Finally, Cromwell Holdings LLC bought a new stake in DoorDash in the 1st quarter valued at $58,000. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James Financial boosted their price target on DoorDash from $260.00 to $275.00 and gave the company a "strong-buy" rating in a research note on Monday, July 21st. BTIG Research upped their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. BMO Capital Markets reiterated an "outperform" rating on shares of DoorDash in a research report on Tuesday, April 29th. JPMorgan Chase & Co. cut their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $235.56.

DoorDash Stock Performance

Shares of DASH stock traded up $2.93 on Thursday, hitting $250.93. The company had a trading volume of 1,030,896 shares, compared to its average volume of 4,763,510. The firm has a market cap of $106.33 billion, a P/E ratio of 325.57 and a beta of 1.70. The stock's 50-day moving average is $228.81 and its two-hundred day moving average is $202.36. DoorDash, Inc. has a twelve month low of $105.91 and a twelve month high of $252.87.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 30,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $243.02, for a total value of $7,290,600.00. Following the completion of the sale, the chief operating officer owned 942,554 shares of the company's stock, valued at approximately $229,059,473.08. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total value of $7,219,800.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at approximately $5,425,679.70. This trade represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 508,189 shares of company stock valued at $115,099,939. Corporate 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.