SG Americas Securities LLC Has $15.67 Million Holdings in DoorDash, Inc. $DASH

Key Points

• SG Americas Securities LLC cut its DoorDash stake by 70.2% in the first quarter, leaving it with 104,380 shares valued at about $15.67 million.
• Institutional ownership remains high, with 90.64% of DoorDash shares held by institutions, and several large investors recently increased or initiated positions in the stock.
• Analyst sentiment is mixed but still positive overall: DoorDash has a Moderate Buy consensus rating, an average target price of $256.11, and the company recently beat EPS estimates while reporting 33.1% year-over-year revenue growth.

SG Americas Securities LLC reduced its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 70.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,380 shares of the company's stock after selling 246,124 shares during the period. SG Americas Securities LLC's holdings in DoorDash were worth $15,673,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DASH. Weiss Ratings raised DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. UBS Group increased their target price on shares of DoorDash from $206.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. BTIG Research dropped their price target on shares of DoorDash from $280.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, June 12th. Finally, Truist Financial decreased their price objective on shares of DoorDash from $340.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.11.

Insider Activity at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction 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 completion of the sale, the director directly owned 19,279 shares of the company's stock, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the transaction, the insider owned 81,106 shares in the company, valued at $12,599,006.04. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 58,558 shares of company stock valued at $9,324,940. Company insiders own 5.83% of the company's stock.

DoorDash News Summary

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

DoorDash Price Performance

Shares of DASH opened at $176.91 on Friday. The firm has a market cap of $77.08 billion, a PE ratio of 84.24 and a beta of 1.83. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The business's 50 day moving average price is $165.43 and its two-hundred day moving average price is $181.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43.

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

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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