Toronto Dominion Bank Sells 11,906 Shares of DoorDash, Inc. (NASDAQ:DASH)

Toronto Dominion Bank cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 30.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,190 shares of the company’s stock after selling 11,906 shares during the quarter. Toronto Dominion Bank’s holdings in DoorDash were worth $3,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after buying an additional 772,977 shares in the last quarter. Capital World Investors lifted its stake in shares of DoorDash by 0.6% in the fourth quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock valued at $929,145,000 after buying an additional 60,033 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of DoorDash by 45.6% in the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after buying an additional 964,860 shares in the last quarter. Finally, Norges Bank bought a new position in shares of DoorDash in the fourth quarter valued at $264,806,000. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Up 3.9 %

DASH opened at $104.74 on Friday. The firm has a 50-day moving average price of $109.60 and a 200-day moving average price of $118.15. DoorDash, Inc. has a twelve month low of $69.90 and a twelve month high of $143.34.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.41) earnings per share. Equities research analysts anticipate that DoorDash, Inc. will post 0.07 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the transaction, the chief financial officer now owns 384,425 shares in the company, valued at $50,340,453.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the transaction, the director now owns 70,191 shares of the company’s stock, valued at $7,789,095.27. The disclosure for this sale can be found here. Insiders sold 459,016 shares of company stock worth $50,495,566 over the last quarter. Corporate insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Moffett Nathanson raised shares of DoorDash from a “neutral” rating to a “buy” rating and raised their price objective for the company from $118.00 to $164.00 in a research note on Thursday, April 11th. Truist Financial dropped their price objective on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of DoorDash from $108.00 to $111.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Roth Mkm dropped their price objective on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Finally, Citigroup increased their target price on shares of DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $135.96.

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.