OP Asset Management Ltd Makes New $5.85 Million Investment in DoorDash, Inc. $DASH

Key Points

• OP Asset Management Ltd initiated a new position in DoorDash, buying 38,991 shares valued at about $5.85 million in the first quarter.
• DoorDash shares were down modestly, and the stock recently traded at $176.91 with a market cap of about $77.08 billion.
• The company’s latest quarterly results beat EPS expectations at $0.42 per share, though revenue of $4.04 billion came in slightly below forecasts despite 33.1% year-over-year growth.

OP Asset Management Ltd bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 38,991 shares of the company's stock, valued at approximately $5,854,000.

A number of other large investors have also recently made changes to their positions in the company. Keel Point LLC increased its stake in DoorDash by 4.3% in the third quarter. Keel Point LLC now owns 1,393 shares of the company's stock valued at $379,000 after purchasing an additional 58 shares during the period. CYBER HORNET ETFs LLC grew its stake in shares of DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company's stock valued at $222,000 after purchasing an additional 60 shares during the last quarter. Vise Technologies Inc. increased its holdings in shares of DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company's stock valued at $796,000 after purchasing an additional 63 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of DoorDash by 7.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company's stock valued at $222,000 after purchasing an additional 64 shares during the period. Finally, Wealthedge Investment Advisors LLC raised its stake in shares of DoorDash by 1.2% during the third quarter. Wealthedge Investment Advisors LLC now owns 5,291 shares of the company's stock worth $1,439,000 after purchasing an additional 65 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Down 0.6%

DoorDash stock opened at $176.91 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $77.08 billion, a price-to-earnings ratio of 84.24 and a beta of 1.83. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The stock's fifty day moving average is $165.43 and its two-hundred day moving average is $181.84.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter last year, the business posted $0.44 earnings per share. The business's revenue for the quarter was up 33.1% on a year-over-year basis. Analysts predict that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched a new conversational shopping assistant for grocery orders, a sign it is expanding its AI-enabled shopping tools and improving the platform’s utility for consumers. DoorDash launches conversational shopping assistant
• Positive Sentiment: Precisely said it is launching a new commercial property imagery product enabled by DoorDash Tasks, highlighting another use case for DoorDash’s logistics and task-based platform beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Positive Sentiment: DoorDash was featured at Cannes Lions in a high-profile UTA ads executive event, which may support brand visibility and advertising relationships. Inside the UTA and DoorDash Ads Executive Soirée at Cannes Lions
• Neutral Sentiment: DoorDash gift cards were highlighted in a Prime Day deals roundup, which may modestly support consumer demand but is not a major company-specific catalyst. I'm heavily considering buying these gift cards on sale for Prime Day
• Negative Sentiment: Multiple news reports described violent or disruptive incidents tied to DoorDash deliveries, including a shooting during a delivery, a carjacking, and a delivery-related dispute. These stories can pressure investor sentiment by raising concerns about driver safety and platform risk. Teens told St. Louis police someone shot at them during a DoorDash delivery
• Negative Sentiment: A separate article said a DoorDash order was used in a scam that drained a customer’s bank account, adding to reputational concerns around the service. The DoorDash Order Was A Setup. The “Support” Call Drained Her Account

Analyst Ratings Changes

A number of equities analysts recently weighed in on DASH shares. Guggenheim reiterated a "buy" rating and issued a $255.00 price objective on shares of DoorDash in a research report on Tuesday. Piper Sandler cut their price objective 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. DA Davidson reduced their target price on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $265.00 target price on shares of DoorDash in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $256.11.

Insider Buying and Selling at DoorDash

In other news, Director Stanley Tang sold 21,433 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the sale, the director directly owned 19,279 shares in the company, valued at $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total transaction of $410,563.62. Following the transaction, the insider directly owned 81,106 shares of the company's stock, valued at approximately $12,599,006.04. This trade represents a 3.16% 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. Over the last 90 days, insiders have sold 58,558 shares of company stock valued at $9,324,940. Insiders own 5.83% of the company's stock.

DoorDash Company 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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