Azzad Asset Management Inc. ADV Acquires Shares of 13,932 DoorDash, Inc. $DASH

Key Points

• Azzad Asset Management acquired a new Q4 stake of 13,932 DoorDash shares valued at about $3.16 million, and institutional investors now own roughly 90.64% of the company.
• DoorDash's latest quarter showed EPS of $0.48 (missed the $0.58 estimate) and revenue of $3.96 billion (slightly below expectations) despite revenue rising 37.7% year-over-year; analysts' consensus rating is "Moderate Buy" with a ~ $263.12 target price.
• There was notable insider selling last quarter—96,673 shares (~$18.3 million) were sold, including Stanley Tang's ~21,433-share sale that cut his holding by ~52.6%, a development investors may view negatively.

Azzad Asset Management Inc. ADV acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,932 shares of the company's stock, valued at approximately $3,155,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Raleigh Capital Management Inc. boosted its holdings in shares of DoorDash by 346.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,299 shares of the company's stock valued at $521,000 after purchasing an additional 1,784 shares during the last quarter. Daytona Street Capital LLC bought a new position in shares of DoorDash during the 4th quarter valued at about $174,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of DoorDash by 27.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 686 shares of the company's stock valued at $155,000 after purchasing an additional 146 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of DoorDash by 319.6% during the 4th quarter. Sound Income Strategies LLC now owns 600 shares of the company's stock valued at $136,000 after purchasing an additional 457 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in shares of DoorDash by 53.0% during the 4th quarter. Y.D. More Investments Ltd now owns 11,599 shares of the company's stock valued at $2,627,000 after purchasing an additional 4,020 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Down 0.9%

Shares of NASDAQ DASH opened at $155.07 on Tuesday. The firm's 50-day moving average price is $172.14 and its 200-day moving average price is $211.59. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $67.37 billion, a price-to-earnings ratio of 73.15 and a beta of 1.93. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). The business had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The firm's quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the sale, the director directly owned 31,002 shares in the company, valued at approximately $5,475,263.22. This represents a 3.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 10,000 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $158.97, for a total transaction of $1,589,700.00. Following the sale, the chief operating officer owned 843,678 shares in the company, valued at $134,119,491.66. This represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 96,673 shares of company stock valued at $18,321,784 over the last quarter. 5.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on DASH. Wedbush increased their price objective on shares of DoorDash from $260.00 to $270.00 and gave the company an "outperform" rating in a report on Friday, December 19th. Sanford C. Bernstein dropped their price objective on shares of DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Needham & Company LLC dropped their price objective on shares of DoorDash from $275.00 to $265.00 and set a "buy" rating for the company in a report on Thursday, February 19th. DA Davidson dropped their price objective on shares of DoorDash from $260.00 to $224.00 and set a "neutral" rating for the company in a report on Thursday, February 19th. Finally, BNP Paribas Exane began coverage on shares of DoorDash in a report on Wednesday, January 14th. They set an "outperform" rating and a $280.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.12.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Mitre 10 (Australia) struck a new delivery deal with DoorDash, expanding the company’s retail footprint in Australia after rival Bunnings partnered with Uber Eats — a small but concrete revenue/market-share win in that region. Mitre 10 strikes new delivery deal with DoorDash
• Positive Sentiment: Celebrity investor commentary: Jim Cramer publicly said DoorDash “can be bought here,” which can boost retail demand and sentiment in the short term. Jim Cramer Says “The Stock of DoorDash Can Be Bought Here”
• Neutral Sentiment: DoorDash is winding down its Zesty restaurant-discovery app — likely a product simplification/reallocation of resources move; could reduce costs but has limited near-term revenue impact. DoorDash winds down restaurant discovery app Zesty
• Neutral Sentiment: Market/technical coverage: CNBC’s Chart Master discussed whether DoorDash can deliver more gains — useful for traders but not new company-level fundamentals. Chart Master: Can DoorDash deliver more gains?
• Negative Sentiment: Insider transaction: Director Stanley Tang sold 21,433 shares (~$3.2M) under a pre-arranged Rule 10b5-1 plan and cut his holding by ~52.6%. Large insider sales can be read negatively by investors despite the 10b5-1 disclosure. SEC Form 4 — Stanley Tang sale
• Negative Sentiment: Safety and PR risk: An 18-year-old DoorDash delivery worker was killed in a hit-and-run, and separate incidents include vehicle thefts from drivers and a police chase. These stories raise driver-safety, insurance, liability and recruitment concerns. 18-year-old man delivering food for DoorDash killed in Southwest Side hit-and-run: family
• Negative Sentiment: Operational risk — vehicle thefts and related arrests were reported (North Charleston theft/arrest and a separate chase/crash), underscoring on-the-ground safety and potential cost implications. Teen arrested for DoorDash car theft in North Charleston Man steals car from DoorDash driver, leads police on chase
• Negative Sentiment: Fraud/tax exposure: Reports that scammers use stolen identities to work for DoorDash (leaving victims with tax bills) highlight compliance, verification and potential remediation costs. Scammers use stolen identities to work for DoorDash

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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