DoorDash, Inc. $DASH Holdings Raised by Alps Advisors Inc.

Key Points

• Alps Advisors increased its DoorDash stake by 324.7% in the third quarter, adding 52,835 shares to hold 69,106 shares valued at $12.684 million.
• Institutional investors collectively own 90.64% of DoorDash. Other third-quarter activity included Godsey & Gibb adding 528,548 shares, bringing its holding to 528,583 shares.
• DoorDash beat quarterly earnings and revenue estimates, with revenue up 34% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $248.66.

Alps Advisors Inc. raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 324.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,106 shares of the company's stock after purchasing an additional 52,835 shares during the period. Alps Advisors Inc.'s holdings in DoorDash were worth $12,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JCP Investment Management LLC bought a new position in shares of DoorDash in the 1st quarter worth $991,000. Godsey & Gibb Inc. raised its position in shares of DoorDash by 1,510,137.1% during the 3rd quarter. Godsey & Gibb Inc. now owns 528,583 shares of the company's stock valued at $97,021,000 after buying an additional 528,548 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of DoorDash during the 2nd quarter worth $1,024,000. Quantinno Capital Management LP lifted its holdings in shares of DoorDash by 4.9% during the 1st quarter. Quantinno Capital Management LP now owns 655,095 shares of the company's stock worth $98,363,000 after acquiring an additional 30,881 shares during the last quarter. Finally, Monetta Financial Services Inc. bought a new stake in shares of DoorDash during the 2nd quarter worth $1,015,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash's Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

DoorDash Trading Down 0.1%

NASDAQ DASH opened at $179.67 on Friday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $239.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.46. The stock has a 50 day simple moving average of $193.38 and a two-hundred day simple moving average of $182.51. The stock has a market cap of $77.85 billion, a P/E ratio of 74.24 and a beta of 1.98.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The business had revenue of $4.62 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business's revenue was up 34.0% compared to the same quarter last year. On average, analysts forecast that DoorDash, Inc. will post 2.68 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 8,738 shares of the company's stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $180.85, for a total transaction of $1,580,267.30. Following the completion of the sale, the chief operating officer owned 921,473 shares of the company's stock, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the company's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $183.69, for a total transaction of $918,450.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 349,430 shares of company stock worth $76,644,002. 44.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DASH. Piper Sandler reaffirmed a "neutral" rating and set a $220.00 price objective (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Raymond James Financial reissued a "buy" rating on shares of DoorDash in a research note on Thursday, September 3rd. Needham & Company LLC lowered their target price on DoorDash from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, October 30th. Scotiabank dropped their target price on DoorDash from $275.00 to $235.00 and set a "sector outperform" rating for the company in a report on Friday, October 30th. Finally, Wells Fargo & Company reduced their price target on DoorDash from $230.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $248.66.

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup.

The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants' own orders, and DashPass, a subscription program for eligible orders.

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