Geode Capital Management LLC Purchases 252,471 Shares of DoorDash, Inc. $DASH

Key Points

• Geode Capital Management increased its DoorDash stake by 2.9% in the fourth quarter, buying 252,471 shares and bringing its total holding to 8.87 million shares worth about $2.0 billion.
• DoorDash reported Q1 earnings of $0.42 per share, topping estimates, while revenue rose 33.1% year over year to $4.04 billion. However, that revenue came in below analyst expectations of $4.15 billion.
• Recent sentiment around the stock is mixed: DoorDash added a major Dollar Tree delivery partnership and analysts still maintain a Moderate Buy consensus, but shares were down about 0.6% and executives have recently sold stock.

Geode Capital Management LLC raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,867,615 shares of the company's stock after acquiring an additional 252,471 shares during the quarter. Geode Capital Management LLC owned about 2.06% of DoorDash worth $2,000,371,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in DoorDash by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company's stock valued at $9,835,229,000 after acquiring an additional 713,571 shares during the period. State Street Corp raised its holdings in DoorDash by 6.3% in the 3rd quarter. State Street Corp now owns 15,296,624 shares of the company's stock valued at $4,160,529,000 after acquiring an additional 909,125 shares during the period. Capital World Investors raised its holdings in DoorDash by 0.9% in the 3rd quarter. Capital World Investors now owns 10,865,927 shares of the company's stock valued at $2,955,424,000 after acquiring an additional 95,278 shares during the period. Invesco Ltd. raised its holdings in DoorDash by 18.2% in the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company's stock valued at $1,728,667,000 after acquiring an additional 980,148 shares during the period. Finally, Northern Trust Corp raised its holdings in DoorDash by 3.0% in the 3rd quarter. Northern Trust Corp now owns 3,348,168 shares of the company's stock valued at $910,668,000 after acquiring an additional 96,012 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Down 0.6%

Shares of DASH opened at $156.70 on Friday. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The firm's 50 day moving average is $162.32 and its 200-day moving average is $187.51. The stock has a market capitalization of $68.28 billion, a PE ratio of 74.62 and a beta of 1.87. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same period last year, the firm earned $0.44 earnings per share. The business's revenue for the quarter was up 33.1% on a year-over-year basis. Equities research analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of DoorDash from $198.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Barclays lowered their price target on shares of DoorDash from $238.00 to $220.00 and set an "equal weight" rating on the stock in a report on Thursday, February 19th. Oppenheimer lowered their price target on shares of DoorDash from $280.00 to $235.00 and set an "outperform" rating on the stock in a report on Thursday, February 19th. Roth Mkm reissued a "neutral" rating and issued a $200.00 price target on shares of DoorDash in a report on Thursday, February 19th. Finally, TD Cowen assumed coverage on shares of DoorDash in a report on Monday, April 27th. They issued a "buy" rating and a $225.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.58.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash announced a partnership with Dollar Tree to offer on-demand delivery from more than 9,000 stores across 48 states, adding a large retail network and potentially boosting order volume and platform relevance. DoorDash and Dollar Tree Partner to Bring Greater Value and Thrill of the Hunt Discovery On-Demand
• Positive Sentiment: Investor sentiment may also be helped by commentary framing DoorDash as a beneficiary of intensifying food-delivery competition and long-term market share gains, suggesting the stock could have upside if it continues to expand its ecosystem. The Food Delivery War Just Entered Its Final Phase
• Neutral Sentiment: DoorDash also received promotional attention from articles highlighting marketing tie-ins, such as free-broom giveaways in New York and a FIFA/fandom theme, which may boost brand visibility but are unlikely to materially change fundamentals. DoorDash Offers Free Brooms in NYC After Knicks Sweep Cavs in NBA Playoffs DoorDash, FIFA And The New Convenience Playbook For The Age Of Fandom
• Negative Sentiment: Recent insider selling by senior executives, including the chief operating officer and general counsel, may create some caution, although both trades were made under pre-arranged Rule 10b5-1 plans and do not necessarily signal a change in business outlook. COO Prabir Adarkar SEC filing General Counsel Tia Sherringham SEC filing

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the transaction, the director directly owned 31,002 shares of the company's stock, valued at approximately $5,475,263.22. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 21,739 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 69,808 shares of company stock valued at $11,135,403. 5.83% of the stock is currently owned by company insiders.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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