DoorDash, Inc. $DASH Shares Sold by Gladstone Capital Management LLP

Key Points

• Gladstone Capital Management LLP reduced its DoorDash stake by 40.4% in the fourth quarter, selling 21,239 shares and leaving it with 31,397 shares worth about $7.1 million.
• DoorDash continues to attract strong institutional and analyst interest. Institutional investors own 90.64% of the stock, and Wall Street’s consensus rating remains “Moderate Buy” with an average price target of $256.11.
• Operational and investor headlines were mixed. Recent positives include seasonal demand trends and product improvements, while the company also dealt with reported platform outages and insider selling over the past three months.

Gladstone Capital Management LLP cut its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 40.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,397 shares of the company's stock after selling 21,239 shares during the period. DoorDash comprises about 0.7% of Gladstone Capital Management LLP's holdings, making the stock its 14th largest holding. Gladstone Capital Management LLP's holdings in DoorDash were worth $7,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rakuten Investment Management Inc. boosted its stake in shares of DoorDash by 846.9% in the 4th quarter. Rakuten Investment Management Inc. now owns 71,466 shares of the company's stock valued at $16,509,000 after buying an additional 63,919 shares during the period. L2 Asset Management LLC increased its stake in shares of DoorDash by 8.5% during the fourth quarter. L2 Asset Management LLC now owns 1,765 shares of the company's stock worth $400,000 after buying an additional 138 shares during the period. University of Texas Texas AM Investment Management Co. increased its stake in shares of DoorDash by 60.3% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 287 shares of the company's stock worth $65,000 after buying an additional 108 shares during the period. Ogborne Capital Management LLC raised its holdings in DoorDash by 328.6% in the fourth quarter. Ogborne Capital Management LLC now owns 150,000 shares of the company's stock valued at $33,972,000 after acquiring an additional 115,000 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in DoorDash by 39.7% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 510 shares of the company's stock valued at $116,000 after acquiring an additional 145 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash News Summary

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

Wall Street Analysts Forecast Growth

DASH has been the subject of several analyst reports. Roth Mkm reiterated a "neutral" rating and set a $200.00 price target on shares of DoorDash in a report on Thursday, February 19th. Benchmark lifted their price objective on shares of DoorDash from $280.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Bank of America increased their target price on DoorDash from $260.00 to $272.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Oppenheimer cut their price target on DoorDash from $280.00 to $235.00 and set an "outperform" rating on the stock in a research note on Thursday, February 19th. Finally, Moffett Nathanson set a $276.00 price target on DoorDash in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $256.11.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of the firm's stock in a transaction that occurred 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 transaction, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director directly owned 19,279 shares in the company, valued at approximately $2,891,850. This trade represents a 52.65% 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 have sold a total of 68,558 shares of company stock worth $10,914,640 over the last three months. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Up 1.2%

Shares of DoorDash stock opened at $170.03 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $163.25 and a 200-day simple moving average of $183.77. The stock has a market cap of $74.09 billion, a price-to-earnings ratio of 80.97 and a beta of 1.83. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

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

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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