DoorDash, Inc. $DASH Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its DoorDash stake by 707.8% in the fourth quarter, buying 221,985 additional shares to bring its total holdings to 253,348 shares worth about $57.4 million.
• DoorDash announced a partnership with Dollar Tree to provide on-demand delivery from more than 9,000 stores across 48 states, a move that could expand order volume and strengthen its retail delivery business.
• The company reported better-than-expected earnings of $0.42 per share for the latest quarter, while revenue rose 33.1% year over year; however, analysts have recently trimmed some price targets even as the stock still carries a consensus Moderate Buy rating.

Intech Investment Management LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 707.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,348 shares of the company's stock after buying an additional 221,985 shares during the period. DoorDash makes up about 0.5% of Intech Investment Management LLC's holdings, making the stock its 24th biggest holding. Intech Investment Management LLC owned 0.06% of DoorDash worth $57,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of DoorDash by 5.0% during the 3rd quarter. American Century Companies Inc. now owns 485,088 shares of the company's stock worth $131,941,000 after buying an additional 22,944 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of DoorDash during the 3rd quarter worth $3,169,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of DoorDash during the 4th quarter worth $41,712,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in DoorDash by 7.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company's stock valued at $219,276,000 after purchasing an additional 53,722 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its holdings in DoorDash by 136.6% in the 3rd quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company's stock valued at $11,520,000 after purchasing an additional 24,454 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash announced a partnership with Dollar Tree to offer on-demand delivery from more than 9,000 stores across 48 states, adding a large retail network and potentially boosting order volume and platform relevance. DoorDash and Dollar Tree Partner to Bring Greater Value and Thrill of the Hunt Discovery On-Demand
• Positive Sentiment: Investor sentiment may also be helped by commentary framing DoorDash as a beneficiary of intensifying food-delivery competition and long-term market share gains, suggesting the stock could have upside if it continues to expand its ecosystem. The Food Delivery War Just Entered Its Final Phase
• Neutral Sentiment: DoorDash also received promotional attention from articles highlighting marketing tie-ins, such as free-broom giveaways in New York and a FIFA/fandom theme, which may boost brand visibility but are unlikely to materially change fundamentals. DoorDash Offers Free Brooms in NYC After Knicks Sweep Cavs in NBA Playoffs DoorDash, FIFA And The New Convenience Playbook For The Age Of Fandom
• Negative Sentiment: Recent insider selling by senior executives, including the chief operating officer and general counsel, may create some caution, although both trades were made under pre-arranged Rule 10b5-1 plans and do not necessarily signal a change in business outlook. COO Prabir Adarkar SEC filing General Counsel Tia Sherringham SEC filing

DoorDash Stock Down 0.6%

Shares of DoorDash stock opened at $156.70 on Friday. The business has a 50-day moving average of $162.32 and a 200-day moving average of $187.51. 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 $68.28 billion, a PE ratio of 74.62 and a beta of 1.87. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company's revenue was up 33.1% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. As a group, equities analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on DASH shares. Cantor Fitzgerald lowered their price target on DoorDash from $285.00 to $230.00 and set an "overweight" rating for the company in a report on Thursday, February 19th. Citigroup lowered their price target on DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a report on Friday, May 8th. Sanford C. Bernstein lowered their price target on DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Guggenheim lowered their price target on DoorDash from $275.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, February 19th. Finally, KeyCorp increased their price target on DoorDash from $275.00 to $280.00 and gave the company an "overweight" rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average price target of $259.58.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 21,433 shares of the firm's 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 completion of the sale, the director directly owned 19,279 shares in the company, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the sale, the general counsel owned 128,216 shares of the company's stock, valued at $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. 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 ninety days, insiders sold 69,808 shares of company stock valued at $11,135,403. 5.83% of the stock is currently owned by insiders.

DoorDash 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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