TimesSquare Capital Management LLC Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

TimesSquare Capital Management LLC raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,818 shares of the company's stock after purchasing an additional 2,250 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.09% of DoorDash worth $65,581,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have commented on DASH shares. Raymond James Financial raised DoorDash from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $215.00 to $260.00 in a report on Monday, June 23rd. UBS Group lowered their price target on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on shares of DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. BTIG Research boosted their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $225.94.

DoorDash Price Performance

Shares of NASDAQ:DASH traded down $2.27 during mid-day trading on Wednesday, hitting $234.50. The company had a trading volume of 2,613,086 shares, compared to its average volume of 4,224,636. The company has a market capitalization of $99.37 billion, a PE ratio of 304.55 and a beta of 1.70. DoorDash, Inc. has a one year low of $99.32 and a one year high of $248.74. The firm has a fifty day moving average price of $218.43 and a 200 day moving average price of $197.18.

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

Insider Activity

In other DoorDash news, CEO Tony Xu sold 44,244 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $114,868,519.50. This trade represents a 7.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is currently owned by insiders.

About DoorDash

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.