DoorDash, Inc. $DASH Stock Holdings Lessened by Generate Investment Management Ltd

Key Points

• Generate Investment Management cut its DoorDash stake by 31.7% in the first quarter, selling 17,510 shares and leaving it with 37,688 shares worth about $5.66 million.
• Institutional ownership in DoorDash remains very high, with hedge funds and other investors holding 90.64% of the stock. Several large firms, including Norges Bank and Wellington Management, have recently increased or initiated positions.
• DoorDash insiders also sold shares recently: COO Prabir Adarkar and insider Keith Yandell both trimmed holdings, and insiders have sold $9.32 million worth of stock over the past 90 days.

Generate Investment Management Ltd reduced its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,688 shares of the company's stock after selling 17,510 shares during the quarter. Generate Investment Management Ltd's holdings in DoorDash were worth $5,659,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in DoorDash during the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP increased its position in DoorDash by 593.1% in the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares in the last quarter. Coatue Management LLC raised its stake in shares of DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock worth $988,668,000 after purchasing an additional 1,910,488 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of DoorDash during the 4th quarter valued at about $372,128,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other news, insider Keith Yandell sold 2,643 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the transaction, the insider directly owned 81,106 shares in the company, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% 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. Over the last 90 days, insiders have sold 58,558 shares of company stock worth $9,324,940. 5.83% of the stock is owned by insiders.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is drawing publicity from a World Cup-related marketing partnership featuring T-Pain, helping keep the brand in the conversation and adding visibility for the company’s advertising efforts. Article Title
• Positive Sentiment: The company also received attention for a Father’s Day themed food recommendation list and a high-profile DoorDash ad featuring Brooklyn Beckham, which suggests continued spending on marketing and brand awareness. Article Title
• Neutral Sentiment: Some of the coverage is largely social-media and entertainment chatter, including reactions to DoorDash repeatedly tagging T-Pain in World Cup posts. This is mostly a publicity story and may have limited direct financial impact. Article Title
• Negative Sentiment: DoorDash is also facing reputational pressure after multiple reports of scammers targeting drivers with fake support calls, with drivers reportedly losing money and bank information. That could raise concerns about platform security and trust. Article Title
• Negative Sentiment: Another negative headline involved a DoorDash delivery robot reportedly getting in the way of an active SWAT scene, which could prompt questions about operational oversight and safety around the company’s autonomous delivery efforts. Article Title

DoorDash Price Performance

Shares of DoorDash stock opened at $172.08 on Tuesday. The stock has a market capitalization of $74.98 billion, a price-to-earnings ratio of 81.94 and a beta of 1.83. The firm's 50-day moving average price is $164.42 and its two-hundred day moving average price is $182.84. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. On average, equities analysts predict that DoorDash, Inc. will post 2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DASH shares. Truist Financial decreased their target price on DoorDash from $340.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. The Goldman Sachs Group set a $280.00 target price on DoorDash in a report on Thursday, May 7th. Wells Fargo & Company lifted their price target on DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Moffett Nathanson set a $276.00 price target on DoorDash in a report on Wednesday, April 15th. Finally, Stifel Nicolaus reduced their price objective on DoorDash from $215.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $256.11.

About DoorDash

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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