DoorDash, Inc. $DASH Stock: Retirement Systems of Alabama Raises Holdings

Key Points

• Retirement Systems of Alabama increased its DoorDash stake by 390.8% in the third quarter, adding 310,644 shares to reach 390,142 shares valued at about $71.6 million. Institutional investors and hedge funds own 90.64% of the stock.
• DoorDash reported quarterly EPS of $1.06, beating the $0.81 consensus, and revenue of $4.62 billion, up 34% year over year and above estimates.
• Analysts have a consensus “Moderate Buy” rating and a $249.39 price target; shares opened at $180.96, within a 52-week range of $143.30 to $239.00.

Retirement Systems of Alabama grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 390.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 390,142 shares of the company's stock after purchasing an additional 310,644 shares during the quarter. Retirement Systems of Alabama owned approximately 0.09% of DoorDash worth $71,611,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Joseph Group Capital Management lifted its holdings in DoorDash by 341.5% in the third quarter. Joseph Group Capital Management now owns 649 shares of the company's stock valued at $119,000 after buying an additional 502 shares during the period. Fulcrum Asset Management LLP acquired a new stake in DoorDash during the 3rd quarter worth about $24,580,000. Avion Wealth grew its holdings in DoorDash by 5,236.4% during the 3rd quarter. Avion Wealth now owns 6,457 shares of the company's stock worth $1,185,000 after acquiring an additional 6,336 shares during the period. Brighton Jones LLC grew its holdings in DoorDash by 108.9% during the 3rd quarter. Brighton Jones LLC now owns 26,398 shares of the company's stock worth $4,845,000 after acquiring an additional 13,764 shares during the period. Finally, Candriam S.C.A. grew its holdings in DoorDash by 674.0% during the 3rd quarter. Candriam S.C.A. now owns 205,300 shares of the company's stock worth $37,683,000 after acquiring an additional 178,777 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DASH shares. Mizuho set a $255.00 price objective on DoorDash in a research note on Friday, October 30th. Loop Capital raised their target price on DoorDash from $225.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, September 22nd. TD Cowen reaffirmed a "buy" rating on shares of DoorDash in a research note on Tuesday, October 27th. Raymond James Financial reiterated a "buy" rating on shares of DoorDash in a report on Thursday, September 3rd. Finally, Needham & Company LLC dropped their price target on DoorDash from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $249.39.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: A new Lyft partnership is presented as a potential source of value for DoorDash, and one analysis argues the stock may be undervalued. Any benefit will depend on how the partnership translates into business results. Article: Is DoorDash Undervalued Following Its New Lyft Partnership?
• Positive Sentiment: An opinion article pushes back on claims that AI agents pose an existential threat to DoorDash, potentially easing concerns that automated ordering could disrupt its marketplace. It is commentary, not new company guidance. Article: AI Agents Are an Existential Risk to DoorDash? Seriously? I’ll Take the Under
• Neutral Sentiment: Instacart reportedly cited competition from Walmart and Amazon in arguing that its proposed merger with DoorDash should be approved. The argument highlights the competitive landscape, but the article does not establish that regulators have approved the deal. Article: Instacart Points to Walmart and Amazon as Reasons Its Merger with DoorDash Should Be Approved
• Neutral Sentiment: Reports about a missing DoorDash driver and a separate driver charged in a hit-and-run have drawn attention, but the stories describe individual incidents and do not report a company-wide operational or financial impact. Article: DoorDash Driver Disappeared After Making One Final Delivery Article: DoorDash Hit-and-Run Driver Charged
• Negative Sentiment: Coverage says some shareholders doubt DoorDash can compete effectively with Amazon, while Amazon’s deal with Uber Eats adds to competitive concerns. This may weigh on sentiment around DoorDash’s growth prospects. Article: DoorDash Shareholders Aren’t Convinced the Company Can Take On Amazon
• Negative Sentiment: Uber is asking an appeals court to keep a DoorDash-related case out of arbitration. The dispute adds legal uncertainty, though the headline alone does not indicate the likely outcome or financial exposure. Article: Uber Asks Appeals Court to Keep DoorDash Case Out of Arbitration

DoorDash Price Performance

DASH stock opened at $180.96 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.37. The company's 50-day moving average is $192.26 and its 200-day moving average is $182.38. The stock has a market capitalization of $78.41 billion, a PE ratio of 74.78 and a beta of 1.98. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $239.00.

DoorDash (NASDAQ:DASH - Get Free Report) last issued 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 return on equity of 10.40% and a net margin of 6.23%. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm's revenue was up 34.0% compared to the same quarter last year. Equities research analysts expect that DoorDash, Inc. will post 2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 19,505 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the completion of the sale, the chief financial officer owned 232,938 shares in the company, valued at $51,390,781.56. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Tony Xu sold 29,567 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $230.00, for a total value of $6,800,410.00. Following the transaction, the chief executive officer directly owned 1,500 shares in the company, valued at $345,000. The trade was a 95.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 349,430 shares of company stock valued at $76,644,002. 44.90% of the stock is currently owned by corporate insiders.

About DoorDash

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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