DoorDash, Inc. $DASH Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1,358.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 203,423 shares of the company's stock after purchasing an additional 189,475 shares during the period. Commonwealth Equity Services LLC's holdings in DoorDash were worth $37,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DASH. Robeco Institutional Asset Management B.V. raised its stake in shares of DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company's stock worth $633,635,000 after buying an additional 3,308,512 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock valued at $575,928,000 after buying an additional 2,472,980 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock valued at $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Vontobel Holding Ltd. grew its stake in shares of DoorDash by 15,993.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company's stock valued at $223,285,000 after acquiring an additional 1,208,919 shares during the period. Finally, Temasek Holdings Private Ltd grew its stake in shares of DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after acquiring an additional 1,145,078 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

DASH has been the subject of several analyst reports. Evercore reissued an "outperform" rating on shares of DoorDash in a report on Thursday. Moffett Nathanson lowered their price target on shares of DoorDash from $280.00 to $278.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. UBS Group dropped their price target on shares of DoorDash from $225.00 to $213.00 and set a "neutral" rating for the company in a research report on Friday, October 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $240.00 price target on shares of DoorDash in a research report on Friday, October 30th. Finally, Needham & Company LLC reduced their price objective on shares of DoorDash from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, October 30th. One investment 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $248.66.

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

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 72,367 shares of the 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 directly owned 10,361 shares of the company's stock, valued at $2,332,882.76. This trade represents a 87.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, Director Andy Fang sold 15,000 shares of DoorDash stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $228.31, for a total transaction of $3,424,650.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 349,430 shares of company stock worth $76,644,002 over the last ninety days. 44.90% of the stock is owned by company insiders.

DoorDash Stock Performance

NASDAQ DASH opened at $179.67 on Monday. The firm has a market cap of $77.85 billion, a price-to-earnings ratio of 74.24 and a beta of 1.98. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $193.38 and a 200-day moving average price of $182.51. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $239.00.

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

DoorDash 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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