Motley Fool Asset Management LLC Increases Stake in DoorDash, Inc. $DASH

Key Points

• Motley Fool Asset Management increased its DoorDash stake by 35.7% in the fourth quarter, holding 39,998 shares worth about $9.1 million after the purchase.
• Several other institutional investors also added to their positions, and hedge funds and institutions own 90.64% of DoorDash shares, indicating broad Wall Street ownership.
• Analysts remain generally positive on DASH, with a consensus rating of “Moderate Buy” and an average price target of $259.58, though several firms have recently trimmed their targets.

Motley Fool Asset Management LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 35.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,998 shares of the company's stock after buying an additional 10,516 shares during the period. Motley Fool Asset Management LLC's holdings in DoorDash were worth $9,059,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Portfolio Design Labs LLC boosted its position in DoorDash by 9.5% during the 4th quarter. Portfolio Design Labs LLC now owns 5,314 shares of the company's stock valued at $1,204,000 after buying an additional 463 shares during the period. Marks Group Wealth Management Inc purchased a new stake in DoorDash during the 4th quarter valued at $319,000. LPL Financial LLC boosted its position in DoorDash by 18.0% during the 4th quarter. LPL Financial LLC now owns 249,823 shares of the company's stock valued at $56,580,000 after buying an additional 38,091 shares during the period. Erste Asset Management GmbH boosted its position in DoorDash by 14.4% during the 4th quarter. Erste Asset Management GmbH now owns 2,228 shares of the company's stock valued at $515,000 after buying an additional 280 shares during the period. Finally, Fiera Capital Corp boosted its position in DoorDash by 34.0% during the 4th quarter. Fiera Capital Corp now owns 77,810 shares of the company's stock valued at $17,622,000 after buying an additional 19,734 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares of the company's stock, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. The sale was disclosed in a legal filing 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 DoorDash stock in a transaction dated Tuesday, May 26th. The shares were 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 of the company's stock, valued at approximately $148,896,549. This trade represents a 2.22% 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 90 days, insiders sold 68,558 shares of company stock valued at $10,914,640. Insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DASH shares. Guggenheim dropped their price target on shares of DoorDash from $275.00 to $255.00 and set a "buy" rating for the company in a research report on Thursday, February 19th. Mizuho dropped their price target on shares of DoorDash from $320.00 to $255.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Evercore set a $300.00 price target on shares of DoorDash in a research report on Thursday, February 19th. Oppenheimer dropped their price target on shares of DoorDash from $280.00 to $235.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Finally, Piper Sandler dropped their price target on shares of DoorDash from $220.00 to $205.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $259.58.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: T-Mobile is offering free DoorDash DashPass again, which could support subscriber growth and keep DoorDash top-of-mind for consumers looking for delivery discounts. T-Mobile Just Gave You Free DoorDash DashPass Again
• Positive Sentiment: Recent director stock purchases can be seen as a vote of confidence from insiders, which often supports investor sentiment. SEC filing for Milan Kovac transaction
• Positive Sentiment: One article argues DoorDash could become a go-to late-night platform for the entertainment industry, suggesting an expanded use case beyond food delivery. DoorDash May Become the Entertainment Industry’s Most Reliable Late-Night Resource
• Neutral Sentiment: Options activity and short-interest headlines suggest traders are positioning around DASH, but the short-interest data shown is essentially zero and does not provide a clear fundamental signal. Do Options Traders Know Something About DoorDash Stock We Don't?
• Neutral Sentiment: Media stories about customer disputes and unusual orders appear largely anecdotal and are unlikely to materially affect DoorDash’s fundamentals. Walmart teams up with beloved fast-food chain to take on UberEats and DoorDash
• Negative Sentiment: Walmart is expanding services that compete with DoorDash and Uber Eats, adding another well-known player to the delivery battle and increasing competitive pressure. Walmart adds new service to compete with DoorDash, UberEats
• Negative Sentiment: DoorDash and Instacart are facing an FTC fight over consumer fees, which raises the risk of stricter oversight or pressure on pricing practices. DoorDash, Instacart face critical FTC fight over consumer fees

DoorDash Trading Up 2.1%

NASDAQ:DASH opened at $155.67 on Wednesday. The company has a 50-day moving average price of $162.59 and a 200-day moving average price of $184.92. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month 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 market cap of $67.83 billion, a price-to-earnings ratio of 74.13 and a beta of 1.83.

DoorDash (NASDAQ:DASH - Get Free Report) last posted 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 firm had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same period last year, the company posted $0.44 EPS. The company's quarterly revenue was up 33.1% compared to the same quarter last year. Equities analysts predict that DoorDash, Inc. will post 2.45 EPS for the current year.

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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