DoorDash, Inc. $DASH Stock: Ethic Inc. Raises Holdings

Ethic Inc. increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 253.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 170,639 shares of the company’s stock after purchasing an additional 122,409 shares during the quarter. Ethic Inc.’s holdings in DoorDash were worth $31,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after acquiring an additional 2,225,954 shares in the last quarter. Temasek Holdings Private Ltd boosted its position in DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock worth $519,744,000 after acquiring an additional 1,145,078 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock worth $633,635,000 after purchasing an additional 3,308,512 shares in the last quarter. Bank of America Corp DE grew its stake in shares of DoorDash by 18.4% in the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after purchasing an additional 536,080 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of DoorDash by 372.0% in the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after purchasing an additional 2,472,980 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Down 0.1%

Shares of DoorDash stock opened at $179.67 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. The firm has a market cap of $77.85 billion, a price-to-earnings ratio of 74.24 and a beta of 1.98. The business has a fifty day simple moving average of $193.38 and a 200-day simple moving average of $182.51. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $239.00.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.25. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities analysts forecast that DoorDash, Inc. will post 2.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on DASH shares. Benchmark raised their price target on DoorDash from $270.00 to $295.00 in a report on Thursday, August 6th. Susquehanna upped their price objective on shares of DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. BTIG Research reiterated a “buy” rating and issued a $225.00 target price on shares of DoorDash in a research report on Wednesday, October 21st. TD Cowen reiterated a “buy” rating on shares of DoorDash in a research report on Tuesday, October 27th. Finally, UBS Group lowered their target price on shares of DoorDash from $225.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.66.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $195.00, for a total value of $198,315.00. Following the transaction, the chief financial officer owned 217,911 shares of the company’s stock, valued at $42,492,645. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $188.71, for a total transaction of $4,363,918.75. Following the completion of the sale, the director owned 10,361 shares in the company, valued at $1,955,224.31. The trade was a 69.06% 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. Insiders sold 349,430 shares of company stock worth $76,644,002 in the last ninety days. Insiders own 44.90% of the company’s stock.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash’s Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup.

The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.