BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in DoorDash, Inc. $DASH

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its DoorDash stake by 60.1% in the first quarter, selling 30,805 shares and leaving it with 20,416 shares valued at about $3.1 million.
• Analysts remain broadly upbeat on DoorDash, with a consensus rating of Moderate Buy and an average price target of $256.11. Recent targets ranged from $225 to $280.
• DoorDash posted strong quarterly results, reporting $0.42 EPS versus $0.36 expected and 33.1% revenue growth year over year, though revenue of $4.04 billion came in slightly below estimates.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 60.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,416 shares of the company's stock after selling 30,805 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in DoorDash were worth $3,065,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DASH. Eastern Bank lifted its position in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares during the period. MV Capital Management Inc. purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $26,000. Swiss RE Ltd. acquired a new stake in shares of DoorDash in the 4th quarter worth approximately $28,000. ST Germain D J Co. Inc. acquired a new stake in DoorDash in the fourth quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in DoorDash during the 4th quarter valued at about $32,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DASH shares. Moffett Nathanson set a $276.00 target price on shares of DoorDash in a research report on Wednesday, April 15th. Susquehanna cut their price objective on DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a research report on Friday, May 8th. Citigroup reaffirmed a "market outperform" rating on shares of DoorDash in a research note on Monday. TD Cowen began coverage on DoorDash in a research report on Monday, April 27th. They set a "buy" rating and a $225.00 price target for the company. Finally, The Goldman Sachs Group set a $280.00 price target on DoorDash in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $256.11.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $172.08 on Tuesday. The company has a market cap of $74.98 billion, a P/E ratio of 81.94 and a beta of 1.83. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The business has a fifty day simple moving average of $164.42 and a 200-day simple moving average of $182.84.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. Equities research analysts forecast that DoorDash, Inc. will post 2.44 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 21,433 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the transaction, the director owned 19,279 shares of the company's stock, valued at approximately $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares in the company, valued at approximately $20,615,850.64. This trade represents a 2.09% 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. Insiders sold a total of 58,558 shares of company stock valued at $9,324,940 over the last three months. Insiders own 5.83% of the company's stock.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is drawing publicity from a World Cup-related marketing partnership featuring T-Pain, helping keep the brand in the conversation and adding visibility for the company’s advertising efforts. Article Title
• Positive Sentiment: The company also received attention for a Father’s Day themed food recommendation list and a high-profile DoorDash ad featuring Brooklyn Beckham, which suggests continued spending on marketing and brand awareness. Article Title
• Neutral Sentiment: Some of the coverage is largely social-media and entertainment chatter, including reactions to DoorDash repeatedly tagging T-Pain in World Cup posts. This is mostly a publicity story and may have limited direct financial impact. Article Title
• Negative Sentiment: DoorDash is also facing reputational pressure after multiple reports of scammers targeting drivers with fake support calls, with drivers reportedly losing money and bank information. That could raise concerns about platform security and trust. Article Title
• Negative Sentiment: Another negative headline involved a DoorDash delivery robot reportedly getting in the way of an active SWAT scene, which could prompt questions about operational oversight and safety around the company’s autonomous delivery efforts. Article Title

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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