Anson Funds Management LP Makes New Investment in DoorDash, Inc. $DASH

Key Points

• Anson Funds Management initiated a DoorDash position by purchasing 8,750 shares valued at approximately $1.31 million. Institutional investors and hedge funds collectively own 90.64% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $252.89, despite some target adjustments and expectations for a decline in upcoming earnings.
• DoorDash launched its in-house DoorDash Air drone-delivery program after receiving FAA certification. The initiative could improve delivery margins and expand logistics offerings, but substantial upfront costs may pressure near-term cash flow.

Anson Funds Management LP purchased a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,750 shares of the company's stock, valued at approximately $1,314,000.

Several other institutional investors and hedge funds also recently modified their holdings of DASH. Brighton Jones LLC grew its holdings in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in DoorDash by 21.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock valued at $314,000 after acquiring an additional 303 shares in the last quarter. Empowered Funds LLC lifted its stake in DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock valued at $1,486,000 after acquiring an additional 285 shares in the last quarter. Sivia Capital Partners LLC boosted its position in DoorDash by 92.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock worth $1,049,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in DoorDash during the 2nd quarter worth approximately $222,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup restated a "market outperform" rating on shares of DoorDash in a report on Monday, June 22nd. KeyCorp lowered their price target on shares of DoorDash from $280.00 to $275.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. TD Cowen reissued a "buy" rating on shares of DoorDash in a research report on Wednesday, July 15th. UBS Group increased their price objective on shares of DoorDash from $206.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Moffett Nathanson set a $276.00 price objective on DoorDash in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.89.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving Federal Aviation Administration Part 135 air-carrier certification. The approval allows the company to conduct commercial drone deliveries in the U.S. and represents a significant regulatory and operational milestone. DoorDash launches in-house drone delivery program after FAA certification
• Positive Sentiment: The company plans to develop its own aircraft and an end-to-end aerial delivery network that will eventually operate through the DoorDash app. If scaled successfully, drones could reduce reliance on gig-economy labor for certain short- and mid-range orders, potentially improving delivery economics and margins. DoorDash is building its own drone delivery business
• Positive Sentiment: DoorDash’s internally developed drone service could expand beyond restaurant orders into retail, pharmaceuticals and other time-sensitive, higher-value deliveries. The company already works with Wing and Flytrex, so the in-house program adds another avenue for autonomous-delivery growth. DoorDash is launching a competing drone delivery service
• Neutral Sentiment: Analysts expect a decline in earnings in DoorDash’s upcoming report, with the company lacking two key indicators typically associated with an earnings beat. This could increase volatility ahead of results. Analysts Estimate DoorDash to Report a Decline in Earnings
• Negative Sentiment: The drone initiative will require substantial upfront investment in aircraft, infrastructure and regulatory compliance. Those costs could weigh on near-term free cash flow before delivery density is high enough to generate meaningful operating leverage. With DASH trading at a high earnings multiple, investors may demand clear evidence that the program can produce stronger profitability.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $193.53 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The stock has a 50 day moving average of $174.13 and a 200-day moving average of $174.90. The company has a market capitalization of $84.32 billion, a P/E ratio of 92.16 and a beta of 1.78.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. As a group, equities research analysts predict that DoorDash, Inc. will post 2.39 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. 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. Insiders have sold a total of 74,927 shares of company stock worth $13,241,532 in the last ninety days. Insiders own 5.83% of the company's stock.

About DoorDash

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.

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