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

Toronto Dominion Bank lowered its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 30.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management purchased a new stake in shares of DoorDash during the 1st quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after acquiring an additional 90 shares in the last quarter. ORG Partners LLC increased its holdings in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in DoorDash by 361.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of DoorDash in the first quarter worth $42,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

DASH opened at $104.74 on Friday. The stock’s fifty day moving average is $109.60 and its two-hundred day moving average is $118.15. DoorDash, Inc. has a 52 week low of $69.90 and a 52 week high of $143.34.

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

Wall Street Analysts Forecast Growth

DASH has been the topic of several research analyst reports. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Thursday, May 2nd. Moffett Nathanson raised shares of DoorDash from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $164.00 in a research note on Thursday, April 11th. Truist Financial reduced their target price on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and issued a $140.00 target price on shares of DoorDash in a report on Thursday, July 18th. Finally, Oppenheimer boosted their target price on shares of DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.96.

Insider Activity

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at approximately $50,340,453.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 459,016 shares of company stock worth $50,495,566. 7.92% of the stock is currently owned by company insiders.

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.