DoorDash, Inc. $DASH Stock Purchased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its DoorDash stake by 1,194.8% in the third quarter, adding 84,926 shares to hold 92,034 shares valued at approximately $16.9 million.
• Other institutional investors also expanded their positions, and institutions collectively own 90.64% of DoorDash’s stock.
• DoorDash beat quarterly earnings and revenue estimates, with revenue rising 34% year over year; analysts’ consensus rating is “Moderate Buy,” with an average price target of $248.66.

Kestra Advisory Services LLC raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1,194.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,034 shares of the company's stock after purchasing an additional 84,926 shares during the period. Kestra Advisory Services LLC's holdings in DoorDash were worth $16,893,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its stake 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 worth $633,635,000 after buying an additional 3,308,512 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company's stock worth $575,928,000 after buying an additional 2,472,980 shares during the period. Janus Henderson Group PLC grew its stake in DoorDash by 40.2% in the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company's stock valued at $1,159,377,000 after buying an additional 2,225,954 shares during the last quarter. Vontobel Holding Ltd. grew its stake in DoorDash by 15,993.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company's stock valued at $223,285,000 after buying an additional 1,208,919 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in DoorDash by 49.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company's stock valued at $519,744,000 after buying an additional 1,145,078 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

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 Analysts Forecast Growth

Several research analysts have weighed in on the stock. Susquehanna increased their price target on shares of DoorDash from $225.00 to $250.00 and gave the company a "positive" rating in a report on Friday, August 7th. Bank of America restated a "buy" rating on shares of DoorDash in a report on Friday, October 30th. The Goldman Sachs Group decreased their target price on DoorDash from $280.00 to $275.00 in a research report on Thursday, August 6th. Scotiabank lowered their target price on DoorDash from $275.00 to $235.00 and set a "sector outperform" rating on the stock in a research note on Friday, October 30th. Finally, Argus increased their target price on DoorDash from $190.00 to $270.00 in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $248.66.

DoorDash Stock Performance

Shares of DoorDash stock opened at $179.67 on Monday. 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 has a 50-day moving average of $193.38 and a 200-day moving average of $182.51. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $239.00. The stock has a market cap of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.06 EPS for the quarter, topping 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 period last year, the firm earned $0.55 earnings per share. DoorDash's revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.68 EPS for the current year.

Insider Transactions at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,017 shares of the business's stock in a transaction dated Monday, October 12th. The shares were 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 $42,492,645. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 8,738 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer owned 921,473 shares in the company, valued at approximately $166,648,392.05. The trade was a 0.94% decrease in their position. 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 have sold 349,430 shares of company stock worth $76,644,002. Company insiders own 44.90% of the company's stock.

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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