DoorDash, Inc. $DASH Stock Position Reduced by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP reduced its DoorDash position by 97.8% in the second quarter, selling 51,788 shares and retaining 1,159 shares valued at approximately $214,000. Institutional investors still own 90.64% of DASH.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $257.47; Susquehanna recently raised its target to $250.00.
• DoorDash’s revenue rose 35.6% year over year to $4.45 billion, exceeding estimates, though earnings per share slightly missed expectations. Insiders have also sold about $86.5 million of stock over the past 90 days.

Engineers Gate Manager LP cut its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 97.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159 shares of the company's stock after selling 51,788 shares during the period. Engineers Gate Manager LP's holdings in DoorDash were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DASH. MV Capital Management Inc. purchased a new position in shares of DoorDash in the 4th quarter valued at $26,000. Washington Trust Advisors Inc. lifted its position in DoorDash by 81.0% in the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company's stock valued at $26,000 after acquiring an additional 64 shares during the last quarter. CENTRAL TRUST Co lifted its position in DoorDash by 269.4% in the first quarter. CENTRAL TRUST Co now owns 266 shares of the company's stock valued at $40,000 after acquiring an additional 194 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in DoorDash by 60.3% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 287 shares of the company's stock valued at $65,000 after acquiring an additional 108 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in DoorDash in the first quarter valued at $55,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on DASH. Susquehanna lifted their target price on DoorDash from $225.00 to $250.00 and gave the stock a "positive" rating in a research report on Friday, August 7th. Bank of America reissued a "buy" rating on shares of DoorDash in a research report on Thursday, August 6th. Guggenheim restated a "buy" rating and set a $255.00 price target on shares of DoorDash in a research note on Tuesday, June 23rd. Jefferies Financial Group lifted their price target on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Finally, Raymond James Financial reiterated a "buy" rating on shares of DoorDash in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $257.47.

DoorDash Price Performance

DASH opened at $193.36 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The stock has a market capitalization of $83.78 billion, a P/E ratio of 101.24 and a beta of 1.79. The business has a 50 day simple moving average of $206.14 and a 200-day simple moving average of $181.06.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company's quarterly revenue was up 35.6% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 2,184 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $200.76, for a total transaction of $438,459.84. Following the completion of the transaction, the insider directly owned 120,688 shares of the company's stock, valued at $24,229,322.88. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 30,835 shares of DoorDash stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $225.98, for a total value of $6,968,093.30. Following the transaction, the director owned 10,361 shares of the company's stock, valued at $2,341,378.78. This represents a 74.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 396,155 shares of company stock worth $86,469,551. 44.90% of the stock is owned by company insiders.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is partnering with Lowe’s and Alphabet’s Wing to test drone delivery in Charlotte, North Carolina. The service could reduce delivery friction, improve speed and expand DoorDash’s role beyond restaurant delivery. Lowe’s is launching a drone delivery service in partnership with DoorDash and Alphabet
• Positive Sentiment: DoorDash’s artificial-intelligence tools reportedly increased grocery basket sizes by 50%, supporting the company’s push into grocery and potentially improving revenue per order. DoorDash AI drives 50% bigger grocery baskets
• Positive Sentiment: Costco has become available on DoorDash, adding another high-profile retail partner and giving DoorDash access to Costco members seeking same-day delivery. Costco is now on DoorDash
• Positive Sentiment: A limited-time 15% discount for first-time customers may help DoorDash acquire new users, although the effect on profitability is uncertain. Save 15% on your first DoorDash order
• Neutral Sentiment: Reported September short interest was zero shares, implying no meaningful short-covering pressure or bearish positioning based on the supplied data.
• Negative Sentiment: DoorDash agreed to a $131.5 million settlement with New York City delivery workers after acknowledging payment errors. The charge and regulatory scrutiny could weigh on margins and raise concerns about labor-related costs. DoorDash agrees to a $131.5 million settlement
• Negative Sentiment: A report about a driver confronting a CVS employee over an allegedly disputed delivery highlights ongoing reputational and order-quality risks, though it does not appear to represent a material financial development. DoorDash driver confronts CVS employee over disputed order

About DoorDash

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.

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