DoorDash, Inc. $DASH Stock Purchased by Asset Dedication LLC

Key Points

• Asset Dedication LLC increased its DoorDash stake by 53,486.7% in the third quarter, to 16,076 shares valued at about $2.95 million. Other institutional investors also added shares; institutions collectively own 90.64% of the company.
• DoorDash’s latest quarter beat estimates, with earnings of $1.06 per share versus $0.81 expected and revenue of $4.62 billion, up 34% year over year.
• Shares opened at $179.67, while analyst consensus remained “Moderate Buy” with a $248.66 target. Recent developments include a Lyft membership bundle and scrutiny of DoorDash’s proposed Instacart deal; director Stanley Tang also sold shares under a pre-arranged trading plan.

Asset Dedication LLC grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 53,486.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,076 shares of the company's stock after acquiring an additional 16,046 shares during the quarter. Asset Dedication LLC's holdings in DoorDash were worth $2,951,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DASH. Janus Henderson Group PLC boosted its position in shares of DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock worth $1,159,377,000 after buying an additional 2,225,954 shares during the period. Temasek Holdings Private Ltd raised its holdings in DoorDash by 49.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock worth $519,744,000 after purchasing an additional 1,145,078 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company's stock valued at $633,635,000 after purchasing an additional 3,308,512 shares in the last quarter. Bank of America Corp DE lifted its stake in DoorDash by 18.4% during the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company's stock valued at $517,907,000 after acquiring an additional 536,080 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in DoorDash by 372.0% in the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock valued at $575,928,000 after buying an additional 2,472,980 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Trending Headlines about DoorDash

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

DoorDash Stock Performance

Shares of DASH opened at $179.67 on Friday. The business's 50 day moving average price is $193.38 and its 200-day moving average price is $182.51. The stock has a market cap of $77.85 billion, a P/E ratio of 74.24 and a beta of 1.98. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $239.00.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results 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 company had revenue of $4.62 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. DoorDash's revenue for the quarter was up 34.0% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 23,125 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $188.71, for a total transaction of $4,363,918.75. Following the transaction, the director directly owned 10,361 shares of the company's stock, valued at $1,955,224.31. This represents a 69.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of the company's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $195.00, for a total value of $198,315.00. Following the completion of the sale, the chief financial officer owned 217,911 shares of the company's stock, valued at approximately $42,492,645. The trade was 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. Insiders have sold a total of 349,430 shares of company stock valued at $76,644,002 over the last ninety days. 44.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on DASH shares. KeyCorp lowered their target price on shares of DoorDash from $280.00 to $275.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Susquehanna lifted their price objective on shares of DoorDash from $225.00 to $250.00 and gave the company a "positive" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on DoorDash from $250.00 to $262.00 in a report on Wednesday, August 5th. Zacks Research raised shares of DoorDash from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Finally, Evercore reiterated an "outperform" rating on shares of DoorDash in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $248.66.

DoorDash Company 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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