DoorDash, Inc. $DASH Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its DoorDash stake by 56.5% in the second quarter, selling 863,479 shares and retaining 664,739 shares valued at approximately $122.7 million. Institutional investors collectively own 90.64% of the company.
• DoorDash’s second-quarter revenue rose 35.6% year over year to $4.45 billion, beating estimates, but earnings of $0.46 per share narrowly missed expectations and declined from $0.65 a year earlier amid higher research-and-development spending.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $253.50, while recent insider transactions—including sales by directors—were conducted under pre-arranged Rule 10b5-1 plans.

Assenagon Asset Management S.A. cut its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 56.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,739 shares of the company's stock after selling 863,479 shares during the quarter. Assenagon Asset Management S.A. owned about 0.15% of DoorDash worth $122,664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of DASH. CYBER HORNET ETFs LLC raised its position in shares of DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company's stock valued at $222,000 after buying an additional 60 shares in the last quarter. Vise Technologies Inc. boosted its position in shares of DoorDash by 1.8% during the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company's stock worth $796,000 after acquiring an additional 63 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock worth $33,000 after acquiring an additional 67 shares in the last quarter. AXS Investments LLC boosted its holdings in shares of DoorDash by 1.3% in the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company's stock valued at $1,232,000 after purchasing an additional 69 shares in the last quarter. Finally, Mutual Advisors LLC increased its stake in shares of DoorDash by 3.1% in the 4th quarter. Mutual Advisors LLC now owns 2,371 shares of the company's stock valued at $537,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Price Performance

Shares of DASH opened at $216.26 on Friday. The firm has a market cap of $94.23 billion, a PE ratio of 113.23 and a beta of 1.78. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The business's 50 day moving average price is $180.65 and its two-hundred day moving average price is $174.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.37.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the firm posted $0.65 earnings per share. The company's revenue for the quarter was up 35.6% on a year-over-year basis. On average, equities analysts anticipate that DoorDash, Inc. will post 2.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. KeyCorp dropped their price objective on DoorDash from $280.00 to $275.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. TD Cowen increased their target price on shares of DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday. Needham & Company LLC restated a "buy" rating and issued a $265.00 price target on shares of DoorDash in a research note on Thursday. UBS Group lifted their price target on shares of DoorDash from $223.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday. Finally, DA Davidson dropped their price objective on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Twenty-three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $253.50.

Insider Buying and Selling at DoorDash

In related news, Director Shona L. Brown sold 582 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $177.06, for a total value of $103,048.92. Following the sale, the director owned 31,156 shares in the company, valued at $5,516,481.36. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. 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 have sold a total of 142,620 shares of company stock worth $26,822,778 in the last ninety days. 5.28% of the stock is currently owned by corporate insiders.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash’s second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, memberships and the Deliveroo acquisition supported the top-line beat. DoorDash Q2 Earnings Miss on Higher R&D Costs, Revenue Beat
• Positive Sentiment: Management issued stronger-than-expected third-quarter guidance, indicating that demand for food, grocery and convenience delivery remains resilient. The company also said improving growth and unit economics are helping fund investments in DashPass, merchant services, artificial intelligence and autonomous delivery. DoorDash Issues Strong Guidance as Delivery Demand Keeps Rising
• Positive Sentiment: DoorDash received FAA approval to operate commercial air-carrier services in Charlotte, clearing a regulatory hurdle for drone deliveries. The initiative could eventually improve delivery speed and economics, although its financial contribution is likely longer term. DoorDash Cleared for Takeoff with FAA Air Carrier Approval
• Positive Sentiment: Several analysts raised their price targets: Cantor Fitzgerald increased its target to $260 and maintained an overweight rating, while Needham reiterated a buy rating with a $265 target. Barclays also lifted its target to $230, though it retained an equal-weight rating. DoorDash Given New Price Target at Barclays
• Neutral Sentiment: DoorDash is positioning artificial intelligence as a growth and efficiency driver, but management said AI-generated traffic is still limited. Autonomous delivery robot deployment also faces practical challenges involving charging, loading and complex pickups. DoorDash Faces Challenges Scaling Its Dot Delivery Robot
• Negative Sentiment: Adjusted earnings of $0.46 per share fell short of expectations and declined from $0.65 a year earlier. Higher research-and-development spending is pressuring near-term profitability as DoorDash invests in technology and expansion. DoorDash Q2 Earnings Miss Estimates
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. While scheduled insider sales do not necessarily signal deteriorating fundamentals, the transaction reduced his position by roughly 63%. Stanley Tang Sells DoorDash Shares

DoorDash Company 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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