Central Pacific Bank Trust Division Cuts Stock Position in DoorDash, Inc. $DASH

Key Points

• Central Pacific Bank Trust Division cut its DoorDash position by 92.9% in the second quarter, selling 6,751 shares and retaining 518 shares valued at approximately $96,000. Institutional investors still own 90.64% of the company.
• DoorDash reported second-quarter revenue of $4.45 billion, up 35.6% year over year and above estimates, but EPS of $0.46 slightly missed expectations and declined from $0.65 a year earlier as expenses increased.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and average price target of $252.00, although insiders sold 142,620 shares worth about $26.8 million during the latest quarter.

Central Pacific Bank Trust Division decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 92.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 518 shares of the company's stock after selling 6,751 shares during the quarter. Central Pacific Bank Trust Division's holdings in DoorDash were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at about $26,000. Sunbelt Securities Inc. lifted its position in DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock worth $33,000 after acquiring an additional 67 shares in the last quarter. Swiss RE Ltd. purchased a new position in 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 approximately $29,000. Finally, Morse Asset Management Inc acquired a new stake in DoorDash in the third quarter valued at approximately $36,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DASH has been the topic of a number of recent research reports. Argus set a $190.00 target price on shares of DoorDash in a research report on Thursday, June 11th. Cantor Fitzgerald lifted their price target on shares of DoorDash from $230.00 to $260.00 and gave the stock an "overweight" rating in a research note on Thursday. Wedbush started coverage on shares of DoorDash in a report on Thursday, July 16th. They issued a "neutral" rating and a $205.00 price objective on the stock. Truist Financial upped their price objective on shares of DoorDash from $330.00 to $336.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Guggenheim restated a "buy" rating and set a $255.00 target price on shares of DoorDash in a research note on Tuesday, June 23rd. Twenty-four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $252.00.

Insiders Place Their Bets

In other news, Director Shona L. Brown sold 582 shares of DoorDash stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $177.06, for a total value of $103,048.92. Following the completion of the transaction, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 959,076 shares of the company's stock, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 142,620 shares of company stock worth $26,822,778. Company insiders own 5.28% of the company's stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Second-quarter revenue rose 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, membership programs and monthly active users supported the company’s expansion narrative. DoorDash Q2 Financial Results
• Positive Sentiment: DoorDash provided stronger-than-expected third-quarter forecasts, indicating that demand for food, grocery and convenience delivery remains resilient and helping offset concerns about near-term profitability. DoorDash Strong Guidance
• Positive Sentiment: Management said improving growth and unit economics are helping fund investments in DashPass, artificial intelligence, autonomous delivery, merchant services and its global technology platform, reinforcing the longer-term growth strategy. DASH Q2 Earnings Call
• Positive Sentiment: Barclays raised its price target to $230, Cantor Fitzgerald lifted its target to $260 and maintained an overweight rating, while BTIG and Needham reaffirmed buy ratings with targets of $225 and $265, respectively. These actions signal continued confidence in DASH’s growth potential. DoorDash Analyst Actions
• Positive Sentiment: The FAA approved DoorDash for commercial drone deliveries in Charlotte, potentially creating a lower-cost fulfillment option and improving delivery economics over time. DoorDash FAA Air Carrier Approval
• Neutral Sentiment: DoorDash is continuing to test artificial intelligence and its Dot autonomous delivery robot, but management acknowledged operational challenges involving charging, loading and complex pickups, which could delay broad deployment. DoorDash Dot Robot Challenges
• Negative Sentiment: Second-quarter EPS was $0.46, slightly below the $0.47 consensus and down from $0.65 a year earlier. Higher costs of revenue, sales and marketing, overhead and research and development spending compressed profit despite the revenue beat. DoorDash Q2 Earnings Miss
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. Although scheduled, the transaction reduced his position by 62.7% and may add some investor caution. Stanley Tang DoorDash Share Sale

DoorDash Stock Up 2.9%

Shares of NASDAQ:DASH opened at $213.26 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $179.51 and a 200 day simple moving average of $174.48. The firm has a market cap of $92.92 billion, a PE ratio of 111.65 and a beta of 1.78. 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.49%. The company's revenue was up 35.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.38 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source