24,356 DoorDash, Inc. $DASH Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its DoorDash stake by 501.7% in the second quarter, acquiring 24,356 additional shares and ending with 29,211 shares valued at $5.39 million. Institutional investors collectively own 90.64% of the company.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year, but EPS of $0.46 slightly missed estimates. The stock opened at $187.53, with a market capitalization of $81.26 billion and a P/E ratio of 98.18.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $257.47, although several firms recently lowered their targets. Recent business developments include drone delivery expansion, larger grocery baskets from AI tools and expanded retail data initiatives.

Envestnet Portfolio Solutions Inc. increased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 501.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,211 shares of the company's stock after acquiring an additional 24,356 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in DoorDash were worth $5,390,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DASH. Vise Technologies Inc. grew its position in shares of DoorDash by 1.8% during the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company's stock worth $796,000 after buying an additional 63 shares during the period. Washington Trust Advisors Inc. grew its holdings in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company's stock worth $26,000 after acquiring an additional 64 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of DoorDash by 2.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company's stock valued at $465,000 after acquiring an additional 67 shares during the last quarter. AXS Investments LLC raised its position in shares of DoorDash by 1.3% during the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company's stock valued at $1,232,000 after acquiring an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of DoorDash by 6.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,209 shares of the company's stock valued at $274,000 after purchasing an additional 73 shares during the period. Institutional investors own 90.64% of the company's stock.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Drone delivery expansion: Lowe’s is testing 20-minute drone deliveries in Charlotte through DoorDash and Alphabet’s Wing. The partnership could broaden DoorDash’s logistics capabilities, improve delivery speed and attract additional retail business. Lowe’s is launching a drone delivery service in partnership with DoorDash and Alphabet
• Positive Sentiment: Higher grocery basket sizes: DoorDash’s artificial-intelligence tools reportedly helped produce grocery baskets that were 50% larger, supporting the company’s efforts to increase order values and improve the economics of grocery delivery. DoorDash AI drives 50% bigger grocery baskets
• Positive Sentiment: Retail and data initiatives: Costco has joined DoorDash, while DoorDash introduced live shelf and purchase data for brands. These developments could expand its retail footprint and create higher-margin data and advertising opportunities. DoorDash Hands Brands Live Shelf Data and Retail Insights
• Neutral Sentiment: Short-interest data: A report claims September short interest totaled zero shares and a zero-day days-to-cover ratio. Because the figures appear inconsistent with the reported increase in short interest, investors should treat this item cautiously.
• Neutral Sentiment: Promotional activity: A limited-time 15% discount for first orders may support customer acquisition, although the cost of the promotion and its effect on margins are unclear. Save 15% on your first order with this limited-time DoorDash deal
• Negative Sentiment: New York labor settlement: DoorDash agreed to pay $131.5 million to resolve a New York City investigation into delivery-worker pay. The settlement adds a direct cost and highlights the risk of additional regulation, higher worker compensation and margin pressure in other markets. DoorDash to pay $131.5 million to resolve New York City probe
• Negative Sentiment: Recent selling pressure: Coverage highlights a roughly 16% monthly decline, while an insider sold 2,184 shares. These developments may reinforce investor concerns about valuation, execution and sentiment. DoorDash Just Dropped 16% in a Month

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DASH. Susquehanna raised their price target on DoorDash from $225.00 to $250.00 and gave the stock a "positive" rating in a research report on Friday, August 7th. Needham & Company LLC reiterated a "buy" rating and issued a $265.00 price objective on shares of DoorDash in a report on Thursday, August 6th. Benchmark cut their target price on DoorDash from $285.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. KeyCorp reduced their target price on DoorDash from $280.00 to $275.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Finally, Rosenblatt Securities initiated coverage on DoorDash in a research report on Tuesday, September 1st. They set a "buy" rating and a $270.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $257.47.

DoorDash Stock Performance

DASH stock opened at $187.53 on Friday. The business's 50-day moving average price is $205.96 and its two-hundred day moving average price is $180.94. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market cap of $81.26 billion, a PE ratio of 98.18 and a beta of 1.79. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the firm earned $0.65 EPS. The company's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 2.51 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 19,505 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the transaction, the chief financial officer owned 232,938 shares in the company, valued at $51,390,781.56. This represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stanley Tang sold 72,367 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the sale, the director directly owned 10,361 shares of the company's stock, valued at $2,332,882.76. This represents a 87.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 396,155 shares of company stock worth $86,469,551 over the last ninety days. 44.90% of the stock is owned by corporate insiders.

About DoorDash

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.

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