DoorDash, Inc. $DASH Stock Acquired by Keybank National Association OH

Key Points

• Keybank National Association OH increased its DoorDash stake by 2,914.8% in the third quarter, ending the period with 160,962 shares valued at about $29.5 million. Institutional investors collectively own 90.64% of the stock.
• DoorDash reported quarterly EPS of $1.06, beating the $0.81 consensus, and revenue of $4.62 billion, up 34% year over year and above estimates.
• Analysts’ consensus rating is Moderate Buy, with a $249.82 average price target; recent targets ranged from $225 to $278.

Keybank National Association OH grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2,914.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 160,962 shares of the company's stock after acquiring an additional 155,623 shares during the quarter. Keybank National Association OH's holdings in DoorDash were worth $29,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management increased its position in DoorDash by 892.9% in the third quarter. Activest Wealth Management now owns 139 shares of the company's stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in DoorDash by 81.0% during the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company's stock valued at $26,000 after purchasing an additional 64 shares in the last quarter. Fairscale Capital LLC lifted its position in DoorDash by 128.6% during the third quarter. Fairscale Capital LLC now owns 144 shares of the company's stock valued at $25,000 after purchasing an additional 81 shares during the last quarter. City State Bank lifted its position in DoorDash by 56.0% during the third quarter. City State Bank now owns 156 shares of the company's stock valued at $29,000 after purchasing an additional 56 shares during the last quarter. Finally, Signature Equity Partners LLC lifted its position in DoorDash by 213.5% during the third quarter. Signature Equity Partners LLC now owns 163 shares of the company's stock valued at $30,000 after purchasing an additional 111 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Up 0.0%

DASH stock opened at $178.26 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $239.00. The stock has a market capitalization of $77.72 billion, a price-to-earnings ratio of 73.66, a price-to-earnings-growth ratio of 1.47 and a beta of 1.98. The firm's fifty day simple moving average is $190.24 and its two-hundred day simple moving average is $182.09.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the business earned $0.55 EPS. The business's revenue was up 34.0% on a year-over-year basis. As a group, analysts anticipate that DoorDash, Inc. will post 2.69 earnings per share for the current year.

Recent DoorDash Headlines

Investors following DASH have been watching these headlines:

• Neutral Sentiment: Coverage highlights DoorDash’s $17 billion Instacart deal and its implications for online pricing and local commerce. The combination could broaden DoorDash’s reach, but pricing dynamics and integration remain important execution questions for investors. DoorDash Is Growing Fast, but Its $17 Billion Instacart Deal Takes Center Stage DoorDash-Instacart combination shines a spotlight on e-commerce pricing
• Negative Sentiment: An analysis argues DASH looks overvalued after a major three-year run. Valuation concerns could constrain investor appetite, particularly with shares trading below their recent moving averages. DoorDash Stock Looks Overvalued Following Its 90% Three Year Run
• Negative Sentiment: A report describes a company seeking to compete with DoorDash and Uber Eats using their own delivery workers, underscoring ongoing competitive pressure; the article provides no evidence of a material near-term effect on DoorDash. This CEO wants to take on DoorDash and Uber Eats using their own delivery workers

Insider Activity at DoorDash

In related news, Director Andy Fang sold 15,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $228.31, for a total value of $3,424,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 72,367 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the completion of the sale, the director directly owned 10,361 shares of the company's stock, valued at approximately $2,332,882.76. The trade was a 87.48% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 349,430 shares of company stock worth $76,644,002 in the last three months. 44.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on DASH shares. Argus lifted their price objective on shares of DoorDash from $190.00 to $270.00 in a research note on Thursday, August 27th. Deutsche Bank upped their target price on shares of DoorDash from $255.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Scotiabank lowered their price target on shares of DoorDash from $275.00 to $235.00 and set a "sector outperform" rating for the company in a report on Friday, October 30th. Rosenblatt Securities lowered their price target on shares of DoorDash from $270.00 to $225.00 and set a "buy" rating for the company in a report on Friday, November 6th. Finally, Moffett Nathanson dropped their price target on DoorDash from $280.00 to $278.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $249.82.

About DoorDash

DoorDash, Inc. operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup. The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants' own orders, and DashPass, a subscription program for eligible orders.

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