DoorDash, Inc. $DASH Stock: Allspring Global Investments Holdings LLC Cuts Stake

Key Points

• Allspring Global Investments Holdings cut its DoorDash stake by 3.3% in the third quarter, selling 16,204 shares; it retained 470,356 shares worth about $85.7 million.
• DoorDash beat quarterly estimates, reporting EPS of $1.06 versus $0.81 expected and revenue of $4.62 billion, up 34% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $249.39; the stock opened at $180.96 on Tuesday.

Allspring Global Investments Holdings LLC cut its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,356 shares of the company's stock after selling 16,204 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.11% of DoorDash worth $85,687,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Activest Wealth Management lifted its position in shares of DoorDash by 892.9% in the third quarter. Activest Wealth Management now owns 139 shares of the company's stock worth $26,000 after buying an additional 125 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company's stock worth $26,000 after acquiring an additional 64 shares in the last quarter. City State Bank boosted its stake in shares of DoorDash by 56.0% during the 3rd quarter. City State Bank now owns 156 shares of the company's stock worth $29,000 after acquiring an additional 56 shares in the last quarter. Signature Equity Partners LLC increased its holdings in shares of DoorDash by 213.5% during the 3rd quarter. Signature Equity Partners LLC now owns 163 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares during the last quarter. Finally, Clark Wealth Partners increased its holdings in shares of DoorDash by 833.3% during the 3rd quarter. Clark Wealth Partners now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 175 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Up 0.7%

Shares of DASH stock opened at $180.96 on Tuesday. The stock has a market cap of $78.41 billion, a P/E ratio of 74.78 and a beta of 1.98. DoorDash, Inc. has a one year low of $143.30 and a one year high of $239.00. The stock has a fifty day moving average price of $192.26 and a 200 day moving average price of $182.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.37.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly 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 in the prior year, the business posted $0.55 earnings per share. The company's quarterly revenue was up 34.0% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 2.68 earnings per share for the current year.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: A new Lyft partnership is presented as a potential source of value for DoorDash, and one analysis argues the stock may be undervalued. Any benefit will depend on how the partnership translates into business results. Article: Is DoorDash Undervalued Following Its New Lyft Partnership?
• Positive Sentiment: An opinion article pushes back on claims that AI agents pose an existential threat to DoorDash, potentially easing concerns that automated ordering could disrupt its marketplace. It is commentary, not new company guidance. Article: AI Agents Are an Existential Risk to DoorDash? Seriously? I’ll Take the Under
• Neutral Sentiment: Instacart reportedly cited competition from Walmart and Amazon in arguing that its proposed merger with DoorDash should be approved. The argument highlights the competitive landscape, but the article does not establish that regulators have approved the deal. Article: Instacart Points to Walmart and Amazon as Reasons Its Merger with DoorDash Should Be Approved
• Neutral Sentiment: Reports about a missing DoorDash driver and a separate driver charged in a hit-and-run have drawn attention, but the stories describe individual incidents and do not report a company-wide operational or financial impact. Article: DoorDash Driver Disappeared After Making One Final Delivery Article: DoorDash Hit-and-Run Driver Charged
• Negative Sentiment: Coverage says some shareholders doubt DoorDash can compete effectively with Amazon, while Amazon’s deal with Uber Eats adds to competitive concerns. This may weigh on sentiment around DoorDash’s growth prospects. Article: DoorDash Shareholders Aren’t Convinced the Company Can Take On Amazon
• Negative Sentiment: Uber is asking an appeals court to keep a DoorDash-related case out of arbitration. The dispute adds legal uncertainty, though the headline alone does not indicate the likely outcome or financial exposure. Article: Uber Asks Appeals Court to Keep DoorDash Case Out of Arbitration

Insider Activity at DoorDash

In other news, Director Andy Fang sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total value of $918,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of the firm's stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $195.00, for a total value of $198,315.00. Following the transaction, the chief financial officer owned 217,911 shares of the company's stock, valued at $42,492,645. This trade represents a 0.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 349,430 shares of company stock valued at $76,644,002. Corporate insiders own 44.90% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on DoorDash from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. JPMorgan Chase & Co. upped their target price on DoorDash from $250.00 to $262.00 in a research report on Wednesday, August 5th. Mizuho set a $255.00 price target on DoorDash in a report on Friday, October 30th. Jefferies Financial Group lifted their price target on shares of DoorDash from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of DoorDash from $255.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average target price of $249.39.

DoorDash Profile

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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