Cache Advisors LLC Sells 61,159 Shares of DoorDash, Inc. $DASH

Key Points

• Cache Advisors LLC cut its DoorDash stake by 63.4% in the first quarter, selling 61,159 shares and leaving it with 35,271 shares valued at about $5.3 million.
• DoorDash continues to attract broad institutional ownership and mostly positive analyst coverage, with a consensus rating of Moderate Buy and a consensus price target of $256.11.
• The company recently reported better-than-expected EPS of $0.42, but revenue came in slightly below estimates at $4.04 billion; meanwhile, several recent insider sales and headlines about scams and operational incidents may weigh on sentiment.

Cache Advisors LLC trimmed its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 63.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,271 shares of the company's stock after selling 61,159 shares during the period. DoorDash comprises about 0.6% of Cache Advisors LLC's investment portfolio, making the stock its 15th biggest position. Cache Advisors LLC's holdings in DoorDash were worth $5,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DASH. Eastern Bank lifted its stake in shares of DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after buying an additional 100 shares during the period. MV Capital Management Inc. acquired a new stake in DoorDash during the fourth quarter worth about $26,000. Swiss RE Ltd. bought a new position in DoorDash during the fourth quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new position in DoorDash during the fourth quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in DoorDash in the 4th quarter valued at approximately $32,000. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a research report on Tuesday, May 12th. Susquehanna cut their target price on DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a research note on Friday, May 8th. Truist Financial cut their target price on DoorDash from $340.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of DoorDash in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.11.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Guggenheim reaffirmed its Buy rating on DoorDash and set a $255 price target, implying substantial upside from recent trading levels. This kind of analyst endorsement can help support the stock. Benzinga coverage of Guggenheim rating
• Neutral Sentiment: DoorDash’s playful World Cup marketing involving T-Pain was widely discussed online, but the coverage appears to be more of a brand-awareness story than a direct business or earnings driver. The Verge article on DoorDash and T-Pain partnership
• Negative Sentiment: Several reports highlighted DoorDash-related scams targeting drivers, including fake support calls that allegedly caused drivers to lose money. That can raise concerns about platform safety and trust. Yahoo article on Minnesota driver scam
• Negative Sentiment: News that a DoorDash delivery robot got in the way of a SWAT operation is likely to generate unwanted attention around the company’s delivery technology and operations, even if it was an isolated incident. MSN article on DoorDash robot at SWAT scene

DoorDash Price Performance

DoorDash stock opened at $171.52 on Wednesday. The business has a 50 day simple moving average of $164.80 and a 200 day simple moving average of $182.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $74.73 billion, a PE ratio of 81.68 and a beta of 1.83. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced 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. 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 analysts' expectations of $4.15 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The business's revenue was up 33.1% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In other news, COO Prabir Adarkar sold 21,739 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer owned 959,076 shares of the company's stock, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. The transaction was disclosed in a document filed 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 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the sale, the director owned 19,279 shares of the company's stock, valued at $2,891,850. This trade represents a 52.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,558 shares of company stock worth $9,324,940 over the last 90 days. 5.83% of the stock is currently owned by company insiders.

DoorDash Company Profile

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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