DoorDash, Inc. $DASH Stock: Brighton Jones LLC Raises Stake

Key Points

• Brighton Jones LLC increased its DoorDash stake by 108.9% in the third quarter, ending the period with 26,398 shares valued at about $4.85 million. Other institutional investors also added shares, and institutions collectively owned 90.64% of the company.
• DoorDash reported quarterly EPS of $1.06, beating estimates of $0.81, while revenue of $4.62 billion topped forecasts and rose 34% year over year.
• Company insiders sold about $76.6 million in shares last quarter; the article says the highlighted director and CFO sales were to cover tax withholding on vested equity awards.

Brighton Jones LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 108.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,398 shares of the company's stock after purchasing an additional 13,764 shares during the period. Brighton Jones LLC's holdings in DoorDash were worth $4,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DASH. Candriam S.C.A. raised its holdings in shares of DoorDash by 674.0% during the third quarter. Candriam S.C.A. now owns 205,300 shares of the company's stock valued at $37,683,000 after buying an additional 178,777 shares during the last quarter. Ethic Inc. boosted its position in shares of DoorDash by 253.8% during the third quarter. Ethic Inc. now owns 170,639 shares of the company's stock worth $31,321,000 after buying an additional 122,409 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in shares of DoorDash during the third quarter worth approximately $197,145,000. Asset Dedication LLC boosted its position in shares of DoorDash by 53,486.7% during the third quarter. Asset Dedication LLC now owns 16,076 shares of the company's stock worth $2,951,000 after buying an additional 16,046 shares during the period. Finally, Alps Advisors Inc. grew its holdings in DoorDash by 324.7% in the 3rd quarter. Alps Advisors Inc. now owns 69,106 shares of the company's stock worth $12,684,000 after buying an additional 52,835 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Insider Activity at DoorDash

In related news, 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 transaction, the director owned 10,361 shares of the company's stock, valued at $2,332,882.76. This trade represents a 87.48% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Ravi Inukonda sold 19,505 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the transaction, the chief financial officer directly owned 232,938 shares of the company's stock, valued at $51,390,781.56. This represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 349,430 shares of company stock worth $76,644,002 in the last quarter. Company insiders own 44.90% of the company's stock.

DoorDash Stock Performance

DoorDash stock opened at $179.67 on Monday. The firm has a 50 day simple moving average of $193.38 and a 200-day simple moving average of $182.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $239.00.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the business earned $0.55 earnings per share. The business's revenue for the quarter was up 34.0% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 2.68 EPS for the current fiscal year.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash's Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore restated an "outperform" rating on shares of DoorDash in a research report on Thursday. Mizuho set a $255.00 target price on DoorDash in a research note on Friday, October 30th. Citigroup reiterated a "market outperform" rating on shares of DoorDash in a research report on Friday, October 30th. Argus increased their price target on DoorDash from $190.00 to $270.00 in a research note on Thursday, August 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $240.00 price target on shares of DoorDash in a report on Friday, October 30th. One investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $248.66.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.