DoorDash, Inc. $DASH Shares Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its DoorDash stake by 674% in the third quarter, purchasing 178,777 shares to hold 205,300 shares valued at about $37.7 million. Institutional investors collectively own 90.64% of the stock.
• Analysts give DoorDash a consensus “Moderate Buy” rating and an average price target of $248.66, though some firms recently lowered their targets.
• DoorDash beat quarterly earnings and revenue estimates, reporting EPS of $1.06 and revenue of $4.62 billion; revenue rose 34% year over year.

Candriam S.C.A. boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 674.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,300 shares of the company's stock after purchasing an additional 178,777 shares during the quarter. Candriam S.C.A.'s holdings in DoorDash were worth $37,683,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. lifted its stake in shares of DoorDash by 81.0% in the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company's stock valued at $26,000 after buying an additional 64 shares during the period. Activest Wealth Management grew its position in DoorDash by 892.9% during the third quarter. Activest Wealth Management now owns 139 shares of the company's stock worth $26,000 after buying an additional 125 shares in the last quarter. City State Bank increased its stake in DoorDash by 56.0% during the third quarter. City State Bank now owns 156 shares of the company's stock valued at $29,000 after acquiring an additional 56 shares during the period. Signature Equity Partners LLC increased its stake in DoorDash by 213.5% during the third quarter. Signature Equity Partners LLC now owns 163 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares during the period. Finally, Clark Wealth Partners increased its stake in DoorDash by 833.3% during the third quarter. Clark Wealth Partners now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 175 shares during the period. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DASH shares. UBS Group cut their price target on DoorDash from $225.00 to $213.00 and set a "neutral" rating for the company in a report on Friday, October 30th. Raymond James Financial reissued a "buy" rating on shares of DoorDash in a report on Thursday, September 3rd. Citigroup restated a "market outperform" rating on shares of DoorDash in a research report on Friday, October 30th. Loop Capital upped their target price on DoorDash from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of DoorDash in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average price target of $248.66.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 72,367 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the completion of the sale, the director owned 10,361 shares of the company's stock, valued at approximately $2,332,882.76. This trade represents a 87.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Ravi Inukonda sold 19,505 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the sale, the chief financial officer directly owned 232,938 shares of the company's stock, valued at approximately $51,390,781.56. The trade was a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 349,430 shares of company stock valued at $76,644,002. 44.90% of the stock is owned by company insiders.

DoorDash News Roundup

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 Price Performance

Shares of NASDAQ DASH opened at $179.67 on Monday. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $239.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. The business has a fifty day moving average of $193.38 and a two-hundred day moving average of $182.51. The stock has a market cap of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98.

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

About DoorDash

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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