Bank of Nova Scotia Sells 311,696 Shares of DoorDash, Inc. $DASH

Bank of Nova Scotia cut its position in DoorDash, Inc. (NASDAQ:DASH) by 51.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 298,306 shares of the company’s stock after selling 311,696 shares during the period. Bank of Nova Scotia’s holdings in DoorDash were worth $73,535,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC increased its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Harbour Investments Inc. boosted its holdings in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after buying an additional 70 shares during the period. Blair William & Co. IL increased its stake in DoorDash by 12.8% in the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company’s stock worth $887,000 after buying an additional 551 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in DoorDash by 39.4% during the first quarter. Chicago Partners Investment Group LLC now owns 2,739 shares of the company’s stock valued at $485,000 after acquiring an additional 774 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in shares of DoorDash in the first quarter worth about $265,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 1.7%

DASH opened at $225.00 on Monday. The stock has a 50-day moving average of $237.29 and a 200 day moving average of $239.36. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50. The firm has a market cap of $96.98 billion, a P/E ratio of 114.21 and a beta of 1.72.

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

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 288,410 shares of DoorDash stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the completion of the transaction, the chief executive officer directly owned 232,040 shares of the company’s stock, valued at $45,489,121.60. The trade was a 55.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alfred Lin acquired 125,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were purchased at an average price of $199.01 per share, for a total transaction of $24,876,250.00. Following the transaction, the director directly owned 514,047 shares of the company’s stock, valued at approximately $102,300,493.47. The trade was a 32.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 679,563 shares of company stock valued at $152,902,593 over the last 90 days. 5.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. Wall Street Zen downgraded DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Stifel Nicolaus reduced their price objective on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Benchmark upped their target price on shares of DoorDash from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Guggenheim reaffirmed a “buy” rating and set a $280.00 target price on shares of DoorDash in a research note on Wednesday, November 19th. Finally, Bank of America reduced their price target on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $275.62.

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.