DoorDash, Inc. $DASH Shares Purchased by Artisan Partners Limited Partnership

Key Points

• Artisan Partners Limited Partnership boosted its DoorDash stake by 23.7% in the fourth quarter, buying 324,812 additional shares and bringing its total to 1,695,291 shares valued at about $383.95 million.
• DoorDash remains heavily owned by institutions, with hedge funds and other institutional investors holding 90.64% of the company’s stock despite some recent insider selling.
• The company recently beat earnings expectations with $0.42 EPS versus $0.36 expected and posted 33.1% year-over-year revenue growth, while analysts maintain a moderate buy view with a consensus price target of $256.11.

Artisan Partners Limited Partnership increased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,695,291 shares of the company's stock after acquiring an additional 324,812 shares during the period. Artisan Partners Limited Partnership owned about 0.39% of DoorDash worth $383,950,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Eastern Bank raised its position in DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Swiss RE Ltd. acquired a new stake in DoorDash in the 4th quarter valued at about $28,000. ST Germain D J Co. Inc. acquired a new stake in DoorDash in the 4th quarter valued at about $29,000. Sunbelt Securities Inc. raised its position in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in DoorDash in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash highlighted Father’s Day demand trends, citing top-rated BBQ restaurants and steakhouses nationwide based on its data, which underscores ongoing consumer engagement and seasonal order activity. Dad's got the night off: Top-rated BBQ restaurants and steakhouses nationwide for Father’s Day, according to DoorDash data
• Positive Sentiment: DoorDash said it wants to help diners find the right restaurant, a product/feature improvement that could improve user experience and potentially boost order conversion over time. DoorDash wants to help diners find the right restaurant
• Positive Sentiment: A Zacks note named DASH among stocks to watch in the gig economy, reinforcing the broader investor interest in delivery-platform names. Must-Watch Stocks to Make the Most of the Gig Economy's Popularity
• Neutral Sentiment: DoorDash is moving its Columbus DashMart hub to a new location, which looks like an operational adjustment rather than a major financial catalyst. DoorDash moving Columbus DashMart hub to new space
• Negative Sentiment: Multiple reports said thousands of users experienced issues with the DoorDash platform, and the company said it was working to correct order problems; outages can hurt transaction volume and near-term investor confidence. Is DoorDash down? Thousands of users report issues with the platform

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DASH shares. The Goldman Sachs Group set a $280.00 price target on DoorDash in a research report on Thursday, May 7th. Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Citigroup reduced their price target on DoorDash from $280.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Evercore set a $300.00 price target on DoorDash in a research report on Thursday, February 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $275.00 price target on shares of DoorDash in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.11.

DoorDash Trading Up 1.2%

DASH opened at $170.03 on Wednesday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a market cap of $74.09 billion, a P/E ratio of 80.97 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The business's 50-day simple moving average is $163.25 and its 200-day simple moving average is $183.77.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business's revenue for the quarter was up 33.1% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 2,643 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the transaction, the insider owned 81,106 shares in the company, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 68,558 shares of company stock worth $10,914,640. Insiders own 5.83% of the company's stock.

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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