TimesSquare Capital Management LLC Sells 20,640 Shares of DoorDash, Inc. $DASH

Key Points

• TimesSquare Capital Management cut its DoorDash stake by 5.9% in the fourth quarter, selling 20,640 shares and ending with 329,443 shares valued at about $74.6 million.
• Insider selling has continued, including sales by Director Shona L. Brown and COO Prabir Adarkar; insiders have sold 42,683 shares worth about $6.9 million over the last 90 days.
• DoorDash beat earnings estimates for the latest quarter with EPS of $0.42 versus $0.36 expected, though revenue came in slightly below forecasts at $4.04 billion. Analysts currently view the stock as a Moderate Buy with an average price target of $259.58.

TimesSquare Capital Management LLC lowered its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 329,443 shares of the company's stock after selling 20,640 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.08% of DoorDash worth $74,612,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Physician Wealth Advisors Inc. raised its holdings in shares of DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company's stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. Eastern Bank raised its holdings in shares of DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of DoorDash in the 4th quarter valued at about $29,000. Finally, Morse Asset Management Inc bought a new stake in shares of DoorDash in the 3rd quarter valued at about $36,000. Institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the sale, the director owned 31,002 shares in the company, valued at $5,475,263.22. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Prabir Adarkar sold 10,000 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $188.34, for a total transaction of $1,883,400.00. Following the completion of the sale, the chief operating officer owned 843,678 shares in the company, valued at $158,898,314.52. The trade was a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,683 shares of company stock worth $6,908,813 over the last 90 days. 5.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on DASH. Stifel Nicolaus reduced their price target on shares of DoorDash from $215.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 13th. Citigroup reduced their price target on shares of DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a report on Friday, May 8th. KeyCorp boosted their price objective on shares of DoorDash from $275.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, February 19th. Sanford C. Bernstein reduced their price objective on shares of DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, February 19th. Finally, Susquehanna reduced their price objective on shares of DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $259.58.

DoorDash Stock Up 2.2%

NASDAQ:DASH opened at $162.67 on Tuesday. The firm has a market capitalization of $70.88 billion, a P/E ratio of 77.46 and a beta of 1.87. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company's fifty day moving average price is $164.17 and its 200-day moving average price is $191.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.45 EPS for the current year.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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