DoorDash, Inc. $DASH Stake Cut by Stratos Wealth Advisors LLC

Key Points

• Stratos Wealth Advisors cut its stake in DoorDash by 90% in Q4, selling 12,644 shares and retaining 1,406 shares worth about $318,000.
• Significant insider selling: Director Stanley Tang sold 21,433 shares (~$3.2M) under a 10b5-1 plan, and insiders have sold 96,673 shares (~$18.3M) in the past 90 days, leaving insiders with 5.83% ownership.
• Operationally DoorDash missed quarterly EPS ($0.48 vs. $0.58 est.) despite revenue rising 37.7% YoY to $3.96B; analysts rate the stock a "Moderate Buy" with an average price target of $263.12 while shares trade near $155.

Stratos Wealth Advisors LLC cut its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 90.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,406 shares of the company's stock after selling 12,644 shares during the quarter. Stratos Wealth Advisors LLC's holdings in DoorDash were worth $318,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DASH. Brighton Jones LLC lifted its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock valued at $314,000 after buying an additional 303 shares during the last quarter. Empowered Funds LLC lifted its stake in DoorDash by 3.6% in the first quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock valued at $1,486,000 after buying an additional 285 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock valued at $1,049,000 after buying an additional 2,049 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in DoorDash by 29.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,185 shares of the company's stock valued at $785,000 after buying an additional 716 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Mitre 10 (Australia) struck a new delivery deal with DoorDash, expanding the company’s retail footprint in Australia after rival Bunnings partnered with Uber Eats — a small but concrete revenue/market-share win in that region. Mitre 10 strikes new delivery deal with DoorDash
• Positive Sentiment: Celebrity investor commentary: Jim Cramer publicly said DoorDash “can be bought here,” which can boost retail demand and sentiment in the short term. Jim Cramer Says “The Stock of DoorDash Can Be Bought Here”
• Neutral Sentiment: DoorDash is winding down its Zesty restaurant-discovery app — likely a product simplification/reallocation of resources move; could reduce costs but has limited near-term revenue impact. DoorDash winds down restaurant discovery app Zesty
• Neutral Sentiment: Market/technical coverage: CNBC’s Chart Master discussed whether DoorDash can deliver more gains — useful for traders but not new company-level fundamentals. Chart Master: Can DoorDash deliver more gains?
• Negative Sentiment: Insider transaction: Director Stanley Tang sold 21,433 shares (~$3.2M) under a pre-arranged Rule 10b5-1 plan and cut his holding by ~52.6%. Large insider sales can be read negatively by investors despite the 10b5-1 disclosure. SEC Form 4 — Stanley Tang sale
• Negative Sentiment: Safety and PR risk: An 18-year-old DoorDash delivery worker was killed in a hit-and-run, and separate incidents include vehicle thefts from drivers and a police chase. These stories raise driver-safety, insurance, liability and recruitment concerns. 18-year-old man delivering food for DoorDash killed in Southwest Side hit-and-run: family
• Negative Sentiment: Operational risk — vehicle thefts and related arrests were reported (North Charleston theft/arrest and a separate chase/crash), underscoring on-the-ground safety and potential cost implications. Teen arrested for DoorDash car theft in North Charleston Man steals car from DoorDash driver, leads police on chase
• Negative Sentiment: Fraud/tax exposure: Reports that scammers use stolen identities to work for DoorDash (leaving victims with tax bills) highlight compliance, verification and potential remediation costs. Scammers use stolen identities to work for DoorDash

Analyst Ratings Changes

A number of equities research analysts have issued reports on DASH shares. Evercore set a $300.00 target price on DoorDash in a research note on Thursday, February 19th. Wolfe Research set a $270.00 target price on DoorDash in a research note on Monday, January 5th. KeyCorp raised their target price on DoorDash from $275.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, February 19th. Cantor Fitzgerald cut their target price on DoorDash from $285.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. Finally, Truist Financial raised their target price on DoorDash from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $263.12.

Insider Activity at DoorDash

In related news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the sale, the director directly owned 31,002 shares in the company, valued at $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction dated 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 in the company, valued at approximately $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 96,673 shares of company stock valued at $18,321,784 in the last ninety days. Company insiders own 5.83% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $155.07 on Tuesday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm's 50-day simple moving average is $172.14 and its 200 day simple moving average is $211.59. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock has a market cap of $67.37 billion, a P/E ratio of 73.15 and a beta of 1.93.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. DoorDash's revenue for the quarter was up 37.7% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current 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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