Empirical Finance LLC Purchases Shares of 14,330 DoorDash, Inc. $DASH

Key Points

• Empirical Finance initiated a DoorDash position by purchasing 14,330 shares worth approximately $2.64 million. Institutional investors collectively own 90.64% of DASH.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $256.97. DoorDash reported 35.6% year-over-year revenue growth to $4.45 billion in its latest quarter, although EPS narrowly missed estimates.
• Insiders have sold significant amounts of stock: CEO Tony Xu sold roughly $6.8 million and CFO Ravi Inukonda sold about $4.3 million, while total insider sales reached 399,553 shares worth approximately $87 million in the latest quarter.

Empirical Finance LLC acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,330 shares of the company's stock, valued at approximately $2,644,000.

Several other large investors have also modified their holdings of DASH. Intech Investment Management LLC lifted its holdings in shares of DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company's stock valued at $57,378,000 after purchasing an additional 221,985 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in DoorDash by 9.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company's stock worth $35,548,000 after buying an additional 13,121 shares during the last quarter. Allstate Corp grew its stake in DoorDash by 116.7% during the 4th quarter. Allstate Corp now owns 29,227 shares of the company's stock worth $6,619,000 after buying an additional 15,741 shares during the last quarter. Brighton Jones LLC grew its stake in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares during the last quarter. Finally, JCP Investment Management LLC acquired a new position in DoorDash during the first quarter worth approximately $991,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DASH shares. Wedbush boosted their price objective on DoorDash from $205.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a report on Tuesday, May 12th. Susquehanna upped their price target 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. Citigroup reiterated a "market outperform" rating on shares of DoorDash in a research note on Monday, August 24th. Finally, Truist Financial increased their price target on shares of DoorDash from $330.00 to $336.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.97.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 29,567 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the transaction, the chief executive officer owned 1,500 shares of the company's stock, valued at $345,000. This represents a 95.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total value of $4,303,193.10. Following the transaction, the chief financial officer directly owned 232,938 shares in the company, valued at $51,390,781.56. This represents a 7.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 399,553 shares of company stock valued at $87,034,140. Corporate insiders own 44.90% of the company's stock.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is partnering with SKIMS to provide on-demand delivery for last-minute wardrobe needs. The arrangement expands DoorDash’s non-restaurant retail business and could increase order frequency and consumer use cases. SKIMS DoorDash partnership
• Positive Sentiment: DoorDash is promoting football-season rewards, including a large cash prize, a vehicle and other incentives. The campaign is designed to drive weekend orders and customer engagement, although the direct financial impact is uncertain. DoorDash football rewards
• Positive Sentiment: A Seeking Alpha analysis maintained a bullish view, citing 36% year-over-year second-quarter revenue growth to $4.45 billion, 23% organic marketplace GOV growth and a 40% increase in adjusted EBITDA to $914 million. The report also highlighted continued DashPass subscriber growth and margin expansion. DoorDash growth analysis
• Positive Sentiment: DoorDash Labs was named Innovation Team of the Year, providing reputational support for the company’s technology and logistics initiatives, though the award has limited near-term earnings significance. DoorDash Labs award
• Neutral Sentiment: Media coverage of an individual delivery experience and DoorDash tipping does not appear material to the company’s financial outlook. DoorDash delivery story
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million under a pre-arranged Rule 10b5-1 plan. Another report cited roughly $6.97 million in director stock sales. Planned transactions reduce the signal’s significance, but insider selling can weigh on sentiment, particularly while DASH trades at a high earnings multiple. DoorDash insider sale

DoorDash Trading Down 5.3%

Shares of DoorDash stock opened at $200.44 on Wednesday. The firm has a market cap of $86.85 billion, a price-to-earnings ratio of 104.94 and a beta of 1.79. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company's 50-day simple moving average is $204.67 and its 200-day simple moving average is $179.21. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the prior year, the firm posted $0.65 EPS. DoorDash's revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.49 earnings per share for the current year.

DoorDash Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.