Wealthfront Advisers LLC Cuts Stock Holdings in DoorDash, Inc. $DASH

Wealthfront Advisers LLC reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,132 shares of the company’s stock after selling 6,605 shares during the quarter. Wealthfront Advisers LLC’s holdings in DoorDash were worth $10,530,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Eastern Bank grew its stake in shares of DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares in the last quarter. MV Capital Management Inc. purchased a new position in DoorDash during the fourth quarter worth about $26,000. Swiss RE Ltd. bought a new stake in DoorDash in the 4th quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new stake in DoorDash in the 4th quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of DoorDash during the 4th quarter worth approximately $32,000. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. 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 84,927 shares of company stock worth $15,124,932 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

DoorDash Trading Down 1.2%

Shares of DASH opened at $184.14 on Friday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The business has a 50-day moving average of $169.76 and a 200 day moving average of $177.68. The firm has a market cap of $80.23 billion, a P/E ratio of 87.69 and a beta of 1.78. 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) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for 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 revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, research analysts forecast that DoorDash, Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DASH shares. Wells Fargo & Company reduced their target price on DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. TD Cowen reissued a “buy” rating on shares of DoorDash in a report on Wednesday. Truist Financial reduced their price target 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. Finally, Piper Sandler decreased their price objective on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $252.89.

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.