Odyssean LLC Acquires Shares of 18,915 DoorDash, Inc. $DASH

Key Points

• Odyssean LLC acquired 18,915 DoorDash shares worth approximately $3.49 million, making DASH its ninth-largest holding and representing 0.6% of the fund’s portfolio. Institutional investors and hedge funds collectively own 90.64% of DoorDash.
• DoorDash reported 35.6% year-over-year revenue growth to $4.45 billion, exceeding estimates, although quarterly EPS of $0.46 narrowly missed the $0.47 consensus.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $254.53. However, insiders sold $45.4 million of stock last quarter, including transactions conducted under Rule 10b5-1 plans to cover taxes or other planned obligations.

Odyssean LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,915 shares of the company's stock, valued at approximately $3,490,000. DoorDash makes up 0.6% of Odyssean LLC's holdings, making the stock its 9th biggest holding.

Several other large investors have also made changes to their positions in the business. Intech Investment Management LLC increased its stake in shares of DoorDash by 707.8% during the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company's stock worth $57,378,000 after purchasing an additional 221,985 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in DoorDash by 9.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company's stock valued at $35,548,000 after buying an additional 13,121 shares in the last quarter. Allstate Corp lifted its stake in DoorDash by 116.7% in the 4th quarter. Allstate Corp now owns 29,227 shares of the company's stock valued at $6,619,000 after buying an additional 15,741 shares in the last quarter. Brighton Jones LLC boosted its holdings in DoorDash by 24.0% in 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 stake in DoorDash in the 1st quarter worth about $991,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 72,367 shares of DoorDash stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the transaction, the director directly owned 10,361 shares of the company's stock, valued at $2,332,882.76. The trade was a 87.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the sale, the chief financial officer directly owned 252,443 shares of the company's stock, valued at approximately $47,469,381.72. This trade represents a 7.03% decrease in their position. 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. Insiders sold 217,147 shares of company stock valued at $45,394,994 in the last quarter. Insiders own 5.28% of the company's stock.

DoorDash Stock Up 1.9%

Shares of NASDAQ:DASH opened at $233.50 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $195.24 and a two-hundred day moving average of $175.67. The stock has a market cap of $101.18 billion, a P/E ratio of 122.25 and a beta of 1.78. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm's revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, research analysts expect that DoorDash, Inc. will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DASH shares. BTIG Research reissued a "buy" rating and set a $225.00 target price on shares of DoorDash in a report on Thursday, August 6th. Benchmark dropped their price target on DoorDash from $285.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. TD Cowen boosted their price target on DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Jefferies Financial Group increased their price objective on DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Finally, Barclays lowered DoorDash from an "equal weight" rating to a "strong sell" rating in a report on Monday. Twenty-three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.53.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash participated in Airbound’s $37 million funding round. Airbound is developing delivery drones and will use the capital to expand manufacturing, potentially giving DoorDash access to technology that could improve delivery speed and long-term delivery economics. The investment is a strategic, rather than near-term earnings, catalyst. Airbound funding article
• Positive Sentiment: DoorDash launched a season-long college football rewards program and a related campaign featuring Reggie Bush, Jameis Winston and Lane Kiffin. The promotions could increase brand awareness, customer engagement and order volume during the football season, although no financial targets were provided. College football rewards program
• Positive Sentiment: Analyst sentiment remains favorable: the consensus rating is “Moderate Buy,” with a reported average price target of $254.53. TD Cowen, Truist Financial and Susquehanna recently raised their targets, reinforcing expectations for continued growth. DoorDash’s latest revenue rose 35.6% year over year to $4.45 billion, exceeding estimates, despite a slight earnings-per-share miss. DoorDash analyst and trading coverage
• Neutral Sentiment: COO Prabir Adarkar and director Stanley Tang reported multiple stock sales totaling approximately $22.8 million. The transactions were made under a pre-arranged Rule 10b5-1 plan and to cover tax withholding on vested equity awards, reducing their bearish significance, though the size of the sales may draw investor attention. DoorDash insider transaction filings
• Neutral Sentiment: Reported short-interest data shows zero shares and a zero-day days-to-cover ratio, but the stated “increase” is mathematically unavailable because both periods reported zero shares. The data therefore offers no meaningful short-squeeze or short-selling signal.

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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