TimesSquare Capital Management LLC Has $90.11 Million Stock Position in DoorDash, Inc. $DASH

TimesSquare Capital Management LLC grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 365,558 shares of the company’s stock after acquiring an additional 6,740 shares during the quarter. DoorDash accounts for 1.3% of TimesSquare Capital Management LLC’s portfolio, making the stock its 20th largest holding. TimesSquare Capital Management LLC’s holdings in DoorDash were worth $90,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Night Squared LP bought a new stake in shares of DoorDash in the 1st quarter worth approximately $2,780,000. Mutual of America Capital Management LLC bought a new stake in shares of DoorDash during the first quarter valued at approximately $7,200,000. Public Investment Fund raised its stake in shares of DoorDash by 68.3% in the first quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after purchasing an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP lifted its position in DoorDash by 6.7% in the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after purchasing an additional 5,000 shares during the period. Finally, Junto Capital Management LP acquired a new stake in DoorDash during the first quarter worth $29,261,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DASH. Loop Capital restated a “buy” rating on shares of DoorDash in a research note on Tuesday, July 15th. Truist Financial upped their target price on shares of DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Morgan Stanley raised their price target on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Piper Sandler lifted their price objective on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, KeyCorp reiterated an “overweight” rating and issued a $325.00 price objective (up from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Stock Down 1.7%

NASDAQ DASH opened at $200.63 on Wednesday. The stock’s 50 day simple moving average is $257.06 and its 200 day simple moving average is $238.27. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The firm has a market cap of $85.71 billion, a PE ratio of 101.84 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the company posted $0.38 EPS. DoorDash’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total transaction of $11,048,707.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 291,403 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the sale, the chief executive officer owned 229,047 shares of the company’s stock, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 825,277 shares of company stock worth $205,015,591. 5.83% of the stock is 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.