DoorDash, Inc. $DASH Shares Bought by Baird Financial Group Inc.

Key Points

• Baird Financial Group increased its DoorDash stake by 404.6% in the second quarter, bringing its holdings to 378,031 shares valued at approximately $69.8 million. Institutional investors collectively own 90.64% of the company.
• DoorDash insiders sold 399,553 shares worth approximately $87.0 million over the past 90 days, including sizable sales by director Stanley Tang and COO Prabir Adarkar. The transactions were conducted under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $257.47 price target. DoorDash reported 35.6% year-over-year revenue growth to $4.45 billion in its latest quarter, though EPS of $0.46 slightly missed estimates.

Baird Financial Group Inc. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 404.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 378,031 shares of the company's stock after acquiring an additional 303,116 shares during the period. Baird Financial Group Inc. owned 0.09% of DoorDash worth $69,758,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of DoorDash by 16,825.6% during the second quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company's stock valued at $19,101,838,000 after buying an additional 102,904,566 shares during the last quarter. SC US Ttgp LTD. grew its stake in shares of DoorDash by 1.6% in the fourth quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock worth $7,176,387,000 after purchasing an additional 506,358 shares in the last quarter. Morgan Stanley grew its stake in shares of DoorDash by 2.3% in the fourth quarter. Morgan Stanley now owns 17,536,824 shares of the company's stock worth $3,971,741,000 after purchasing an additional 391,596 shares in the last quarter. State Street Corp increased its holdings in shares of DoorDash by 3.0% during the fourth quarter. State Street Corp now owns 15,761,072 shares of the company's stock valued at $3,569,568,000 after purchasing an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock valued at $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 30,835 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $225.98, for a total value of $6,968,093.30. Following the transaction, the director owned 10,361 shares of the company's stock, valued at approximately $2,341,378.78. This represents a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 55,289 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total value of $12,813,778.64. Following the sale, the chief operating officer owned 930,211 shares of the company's stock, valued at $215,585,701.36. This trade represents a 5.61% decrease in their position. 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 399,553 shares of company stock valued at $87,034,140 in the last ninety days. 44.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Argus set a $190.00 price objective on shares of DoorDash in a report on Thursday, June 11th. Sanford C. Bernstein reissued an "outperform" rating on shares of DoorDash in a research note on Thursday, September 3rd. Jefferies Financial Group boosted their price target on shares of DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Cantor Fitzgerald upped 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, August 6th. Finally, Roth Capital increased their price objective on shares of DoorDash from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $257.47.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $197.24 on Thursday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $85.46 billion, a price-to-earnings ratio of 103.27 and a beta of 1.79. The firm has a 50-day moving average of $204.83 and a two-hundred day moving average of $179.36.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the firm earned $0.65 EPS. The business's revenue for the quarter was up 35.6% on a year-over-year basis. As a group, analysts expect that DoorDash, Inc. will post 2.49 earnings per share for the current fiscal year.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Retail expansion: DoorDash is partnering with fashion brands including SKIMS and Windsor to deliver last-minute clothing and wardrobe items. The deals support DoorDash’s strategy of expanding beyond restaurant delivery, potentially increasing order frequency and broadening its addressable market. Windsor DoorDash partnership SKIMS DoorDash partnership
• Positive Sentiment: Technology and marketing visibility: DoorDash Labs was named Innovation Team of the Year, while a new Jameis Winston advertising campaign and football-season rewards promotion could support brand awareness and customer engagement. These developments are strategically favorable but have limited immediate earnings impact. DoorDash Labs award Jameis Winston DoorDash advertisement
• Neutral Sentiment: Human-interest coverage involving DoorDash orders, tipping and recipes is unlikely to materially affect the company’s financial outlook. Chicken recipes and DoorDash
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million at an average price of $228.31. Because the sale was executed under a pre-arranged Rule 10b5-1 plan, it is a weaker bearish signal, but it may still weigh on sentiment given the stock’s premium valuation. DoorDash director insider sale

DoorDash Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.

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