Odyssean LLC Makes New Investment in DoorDash, Inc. $DASH

Odyssean LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,915 shares of the company’s stock, valued at approximately $3,490,000. DoorDash comprises 0.6% of Odyssean LLC’s portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. MV Capital Management Inc. purchased a new position in shares of DoorDash during the 4th quarter worth approximately $26,000. Swiss RE Ltd. acquired a new stake in DoorDash in the 4th quarter valued at approximately $28,000. ST Germain D J Co. Inc. purchased a new stake in DoorDash in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in DoorDash in the fourth quarter valued at approximately $32,000. Finally, Sunbelt Securities Inc. lifted its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DASH shares. Piper Sandler restated a “neutral” rating and set a $220.00 price target (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. Barclays downgraded DoorDash from an “equal weight” rating to a “strong sell” rating in a report on Monday. Citigroup restated a “market outperform” rating on shares of DoorDash in a report on Monday. TD Cowen boosted their price target on shares of DoorDash from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Benchmark reduced their price target on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Twenty-three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.53.

DoorDash Stock Performance

Shares of DASH opened at $233.50 on Wednesday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The stock has a market capitalization of $101.18 billion, a PE ratio of 122.25 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day simple moving average of $195.24 and a 200-day simple moving average of $175.67.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, analysts predict that DoorDash, Inc. will post 2.46 earnings per share for the current fiscal year.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash participated in Airbound’s $37 million funding round. Airbound is developing delivery drones and will use the capital to expand manufacturing, potentially giving DoorDash access to technology that could improve delivery speed and long-term delivery economics. The investment is a strategic, rather than near-term earnings, catalyst. Airbound funding article
• Positive Sentiment: DoorDash launched a season-long college football rewards program and a related campaign featuring Reggie Bush, Jameis Winston and Lane Kiffin. The promotions could increase brand awareness, customer engagement and order volume during the football season, although no financial targets were provided. College football rewards program
• Positive Sentiment: Analyst sentiment remains favorable: the consensus rating is “Moderate Buy,” with a reported average price target of $254.53. TD Cowen, Truist Financial and Susquehanna recently raised their targets, reinforcing expectations for continued growth. DoorDash’s latest revenue rose 35.6% year over year to $4.45 billion, exceeding estimates, despite a slight earnings-per-share miss. DoorDash analyst and trading coverage
• Neutral Sentiment: COO Prabir Adarkar and director Stanley Tang reported multiple stock sales totaling approximately $22.8 million. The transactions were made under a pre-arranged Rule 10b5-1 plan and to cover tax withholding on vested equity awards, reducing their bearish significance, though the size of the sales may draw investor attention. DoorDash insider transaction filings
• Neutral Sentiment: Reported short-interest data shows zero shares and a zero-day days-to-cover ratio, but the stated “increase” is mathematically unavailable because both periods reported zero shares. The data therefore offers no meaningful short-squeeze or short-selling signal.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 19,095 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the transaction, the chief financial officer owned 252,443 shares in the company, valued at $47,469,381.72. The trade was a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 217,147 shares of company stock worth $45,394,994 over the last ninety days. 5.28% of the stock is currently owned by insiders.

About DoorDash

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.