TimesSquare Capital Management LLC Lowers Stock Position in DoorDash, Inc. $DASH

TimesSquare Capital Management LLC cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 329,443 shares of the company’s stock after selling 20,640 shares during the period. TimesSquare Capital Management LLC’s holdings in DoorDash were worth $74,612,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its holdings in DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after buying an additional 71 shares in the last quarter. Eastern Bank boosted its holdings in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. ST Germain D J Co. Inc. purchased a new stake in DoorDash during the fourth quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in DoorDash during the third quarter worth $36,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $162.67 on Tuesday. The firm has a 50-day simple moving average of $164.17 and a 200-day simple moving average of $191.96. The stock has a market capitalization of $70.88 billion, a price-to-earnings ratio of 77.46 and a beta of 1.87. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. On average, equities analysts predict that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares of the company’s stock, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,683 shares of company stock worth $6,908,813 over the last three months. Insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $275.00 price target on shares of DoorDash in a report on Thursday, February 19th. Cantor Fitzgerald decreased their price objective on shares of DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Truist Financial decreased their price objective on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Stifel Nicolaus decreased their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $259.58.

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.