DoorDash, Inc. $DASH Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its DoorDash position by 38.7% in the first quarter, selling 10,598 shares and leaving it with 16,811 shares valued at about $2.52 million.
• Several other institutional investors adjusted their stakes, and overall hedge funds and institutions still own 90.64% of DoorDash shares, indicating continued heavy institutional interest.
• Analysts remain generally positive on the stock, with DoorDash holding a “Moderate Buy” consensus and an average price target of $256.11, while the company also reported Q1 EPS of $0.42, above estimates, despite revenue coming in slightly below expectations.

Sterling Capital Management LLC lowered its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 38.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,811 shares of the company's stock after selling 10,598 shares during the period. Sterling Capital Management LLC's holdings in DoorDash were worth $2,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of DoorDash by 21.5% during the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock valued at $314,000 after acquiring an additional 303 shares in the last quarter. Empowered Funds LLC grew its stake in shares of DoorDash by 3.6% during the first quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock valued at $1,486,000 after acquiring an additional 285 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of DoorDash by 92.9% during the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock worth $1,049,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of DoorDash in the second quarter worth about $222,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen began coverage on DoorDash in a report on Monday, April 27th. They issued a "buy" rating and a $225.00 price target for the company. Piper Sandler cut their target price on DoorDash from $220.00 to $205.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research report on Thursday, May 7th. Finally, Wells Fargo & Company lifted their price target on shares of DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $256.11.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction on 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 of the company's stock, valued at $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the sale, the director owned 19,279 shares of the company's stock, valued at approximately $2,891,850. The trade was 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. In the last 90 days, insiders sold 63,558 shares of company stock worth $10,224,940. 5.83% of the stock is owned by insiders.

DoorDash Stock Up 0.2%

Shares of DoorDash stock opened at $183.42 on Monday. The business has a 50-day moving average price of $165.50 and a 200 day moving average price of $181.54. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm has a market cap of $79.92 billion, a P/E ratio of 87.34 and a beta of 1.83. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the business posted $0.44 EPS. DoorDash's quarterly revenue was up 33.1% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

DoorDash 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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