Independent Financial Group LLC Invests $1.40 Million in DoorDash, Inc. $DASH

Key Points

• Independent Financial Group LLC opened a new position in DoorDash during the first quarter, buying 9,301 shares valued at about $1.4 million.
• Institutional interest in DoorDash remains very high, with 90.64% of the stock owned by hedge funds and other institutional investors. Several large firms also significantly increased or initiated positions recently.
• DoorDash continues to draw attention from analysts and news flow: Wedbush started coverage with a neutral rating and $205 target, while the company is also pushing into AI-enabled ordering tools; however, it faces legal and competitive risks from a new $25 million lawsuit and rising rivalry tied to Uber’s Delivery Hero deal.

Independent Financial Group LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,301 shares of the company's stock, valued at approximately $1,397,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in DoorDash during the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP lifted its position in shares of DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock valued at $1,241,494,000 after buying an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock valued at $3,161,234,000 after buying an additional 3,447,754 shares during the last quarter. Coatue Management LLC grew its stake in shares of DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock worth $988,668,000 after acquiring an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of DoorDash during the 4th quarter worth $372,128,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

DoorDash Stock Performance

NASDAQ DASH opened at $184.14 on Monday. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $169.76 and a 200-day moving average of $177.30. The firm has a market cap of $80.23 billion, a PE ratio of 87.69 and a beta of 1.78.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company's revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andy Fang sold 5,000 shares of the business's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business'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 value of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $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. Insiders sold a total of 74,927 shares of company stock valued at $13,241,532 over the last ninety days. 5.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a research note on Tuesday, May 12th. Zacks Research raised shares of DoorDash from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Guggenheim reiterated a "buy" rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. KeyCorp dropped their target price on DoorDash from $280.00 to $275.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Finally, Truist Financial cut their price target on DoorDash from $340.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $252.89.

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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