DoorDash, Inc. $DASH Stock Purchased by Avion Wealth

Key Points

• Avion Wealth increased its DoorDash stake by 5,236.4% in the third quarter, adding 6,336 shares to hold 6,457 shares valued at about $1.19 million.
• Other institutional investors also expanded their positions, and institutions collectively owned 90.64% of DoorDash stock.
• DoorDash beat quarterly earnings and revenue estimates, with revenue up 34% year over year. Analysts’ consensus rating was Moderate Buy, with a $248.66 average price target.

Avion Wealth grew its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 5,236.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,457 shares of the company's stock after purchasing an additional 6,336 shares during the period. Avion Wealth's holdings in DoorDash were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. Robeco Institutional Asset Management B.V. boosted its holdings in shares of DoorDash by 2,304.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company's stock valued at $633,635,000 after acquiring an additional 3,308,512 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in DoorDash by 372.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock worth $575,928,000 after purchasing an additional 2,472,980 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 40.2% during the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of DoorDash by 15,993.1% during the third quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company's stock valued at $223,285,000 after purchasing an additional 1,208,919 shares in the last quarter. Finally, Temasek Holdings Private Ltd boosted its stake in shares of DoorDash by 49.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after purchasing an additional 1,145,078 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on DASH. UBS Group dropped their price objective on shares of DoorDash from $225.00 to $213.00 and set a "neutral" rating for the company in a report on Friday, October 30th. KeyCorp lowered their target price on DoorDash from $280.00 to $275.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $240.00 target price on shares of DoorDash in a research report on Friday, October 30th. Citigroup reaffirmed a "market outperform" rating on shares of DoorDash in a report on Friday, October 30th. Finally, Roth Capital increased their price target on DoorDash from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.66.

Key Headlines Impacting 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

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

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

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 8,738 shares of the stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $180.85, for a total transaction of $1,580,267.30. Following the completion of the sale, the chief operating officer directly owned 921,473 shares in the company, valued at approximately $166,648,392.05. This trade represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Keith Yandell sold 2,183 shares of DoorDash stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $183.69, for a total value of $400,995.27. Following the completion of the transaction, the chief operating officer directly owned 118,505 shares of the company's stock, valued at approximately $21,768,183.45. This trade represents a 1.81% 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. In the last ninety days, insiders have sold 349,430 shares of company stock valued at $76,644,002. 44.90% of the stock is owned by corporate insiders.

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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