QRG Capital Management Inc. Has $46.39 Million Position in DoorDash, Inc. $DASH

QRG Capital Management Inc. grew its stake in DoorDash, Inc. (NASDAQ:DASH) by 191.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,374 shares of the company’s stock after acquiring an additional 165,039 shares during the quarter. QRG Capital Management Inc.’s holdings in DoorDash were worth $46,386,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its position in shares of DoorDash by 501.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,211 shares of the company’s stock valued at $5,390,000 after buying an additional 24,356 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of DoorDash by 1,148.7% during the second quarter. Sequoia Financial Advisors LLC now owns 99,622 shares of the company’s stock worth $18,383,000 after purchasing an additional 91,644 shares during the period. MCF Advisors LLC lifted its holdings in shares of DoorDash by 1,488.4% during the 2nd quarter. MCF Advisors LLC now owns 2,462 shares of the company’s stock valued at $454,000 after purchasing an additional 2,307 shares in the last quarter. Bienville Capital Management LLC lifted its holdings in shares of DoorDash by 17.3% during the 2nd quarter. Bienville Capital Management LLC now owns 233,312 shares of the company’s stock valued at $43,053,000 after purchasing an additional 34,470 shares in the last quarter. Finally, WINTON GROUP Ltd grew its position in shares of DoorDash by 5,773.9% in the 2nd quarter. WINTON GROUP Ltd now owns 396,961 shares of the company’s stock valued at $73,251,000 after purchasing an additional 390,203 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: New retail-insights platform: DoorDash introduced tools that give brands purchase-based consumer signals from orders and audit-based information from store-shelf scans. The offering could deepen merchant relationships, expand DoorDash’s business beyond delivery and create additional high-margin revenue opportunities. DoorDash Hands Brands Live Shelf Data and Retail Insights
• Neutral Sentiment: Insider sale was limited: Chief Business Officer Keith Yandell sold 2,184 shares for approximately $438,460 under a pre-arranged Rule 10b5-1 trading plan. He retained more than 120,000 shares, making the transaction a relatively weak signal about management’s outlook. DoorDash insider transaction filing
• Negative Sentiment: $131.5 million NYC settlement: DoorDash agreed to resolve a New York City investigation into allegedly underpaying or delaying payments to delivery workers. The agreement includes $12.3 million in direct payments to drivers. Although the cash cost is manageable relative to DoorDash’s market value, the settlement raises concerns about compliance expenses, worker-pay economics and similar regulatory actions in other markets. DoorDash reaches $131.5 million settlement with New York City
• Negative Sentiment: Broader regulatory risk: New York officials’ criticism of DoorDash’s pay practices is part of a wider political push to increase delivery-worker compensation and safety requirements. Higher labor costs or tighter rules could reduce margins and force changes to the company’s pricing and algorithmic dispatch model. New York campaign against delivery apps
• Negative Sentiment: Recent underperformance and valuation concerns: DoorDash has fallen about 16% over the past month, substantially underperforming broader consumer-discretionary and technology stocks. With shares trading below the 50-day moving average and at a high earnings multiple, investors may be demanding clearer earnings growth to offset regulatory and execution risks. DoorDash stock decline analysis

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 72,367 shares of DoorDash stock in a transaction on Friday, August 21st. The shares were sold at an average price of $225.16, for a total value of $16,294,153.72. Following the sale, the director directly owned 10,361 shares in the company, valued at approximately $2,332,882.76. The trade was a 87.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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, CEO Tony Xu sold 29,567 shares of DoorDash stock in a transaction on Monday, August 24th. The shares were sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares in the company, valued at $345,000. The trade was a 95.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 396,737 shares of company stock worth $86,572,600 in the last three months. 44.90% of the stock is currently owned by company insiders.

DoorDash Stock Down 1.5%

NASDAQ:DASH traded down $2.94 during trading hours on Wednesday, reaching $189.27. 5,832,573 shares of the stock were exchanged, compared to its average volume of 4,690,309. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50 day moving average of $205.95 and a 200 day moving average of $180.84. The stock has a market cap of $82.01 billion, a PE ratio of 99.09 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. DoorDash’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. On average, equities analysts expect that DoorDash, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of DoorDash in a research note on Thursday, September 3rd. Benchmark reduced their price target on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Bank of America reiterated a “buy” rating on shares of DoorDash in a report on Thursday, August 6th. Wedbush increased their price objective on shares of DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $265.00 price objective on shares of DoorDash in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.47.

DoorDash Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.