DoorDash, Inc. $DASH Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its DoorDash stake by 22.6% in the first quarter to 47,282 shares valued at approximately $7.1 million. Other institutions also added shares, and institutional investors now own 90.64% of DASH.
• DoorDash insiders sold 74,927 shares worth about $13.2 million over the past 90 days, including sales by the general counsel and COO under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and average price target of $252.89. DoorDash recently beat quarterly EPS estimates, while revenue rose 33.1% year over year despite falling short of forecasts.

Cetera Investment Advisers lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 22.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,282 shares of the company's stock after buying an additional 8,724 shares during the period. Cetera Investment Advisers' holdings in DoorDash were worth $7,099,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DASH. Coronation Fund Managers Ltd. acquired a new stake in shares of DoorDash in the 1st quarter valued at approximately $29,240,000. Militia Capital Management LLC acquired a new position in DoorDash during the first quarter worth $348,000. Westpac Banking Corp grew its holdings in DoorDash by 111.9% during the first quarter. Westpac Banking Corp now owns 15,704 shares of the company's stock worth $2,358,000 after acquiring an additional 8,294 shares during the period. Himension Capital Singapore PTE. LTD. raised its position in DoorDash by 38.7% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 5,706 shares of the company's stock worth $857,000 after acquiring an additional 1,591 shares in the last quarter. Finally, Temasek Holdings Private Ltd raised its position in DoorDash by 49.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock worth $519,744,000 after acquiring an additional 1,145,078 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In other news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares of the company's stock, valued at $20,615,850.64. The trade was a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the sale, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% 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 have sold 74,927 shares of company stock worth $13,241,532. Insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DASH shares. Zacks Research downgraded DoorDash from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research note on Thursday, May 7th. Moffett Nathanson set a $276.00 price target on shares of DoorDash in a report on Wednesday, April 15th. TD Cowen reiterated a "buy" rating on shares of DoorDash in a research note on Wednesday, July 15th. Finally, Truist Financial decreased their price objective on shares of DoorDash from $340.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $252.89.

DoorDash Stock Performance

Shares of DASH stock opened at $196.16 on Friday. The stock has a fifty day moving average price of $175.61 and a 200 day moving average price of $174.92. The stock has a market cap of $85.47 billion, a PE ratio of 93.41 and a beta of 1.78. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion for 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%.DoorDash's quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving FAA Part 135 certification, allowing it to operate commercial drone deliveries in the U.S. The initiative could eventually reduce reliance on delivery labor and improve margins by shifting toward a more automated, fixed-asset logistics model. DoorDash gains FAA certification to operate its own drone delivery program
• Positive Sentiment: Management’s experience with fast-food delivery, including a previously questioned Taco Bell partnership, suggests consumers remain willing to pay delivery fees for convenience. That supports continued demand and DoorDash’s long-term order-growth outlook. DoorDash CEO delivery fast food article

About DoorDash

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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