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

Ethic Inc. increased its position in DoorDash, Inc. (NASDAQ:DASH) by 253.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,639 shares of the company’s stock after purchasing an additional 122,409 shares during the period. Ethic Inc.’s holdings in DoorDash were worth $31,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS bought a new position in DoorDash during the 3rd quarter worth approximately $197,145,000. Asset Dedication LLC grew its position in shares of DoorDash by 53,486.7% in the 3rd quarter. Asset Dedication LLC now owns 16,076 shares of the company’s stock worth $2,951,000 after acquiring an additional 16,046 shares in the last quarter. Alps Advisors Inc. grew its position in shares of DoorDash by 324.7% in the 3rd quarter. Alps Advisors Inc. now owns 69,106 shares of the company’s stock worth $12,684,000 after acquiring an additional 52,835 shares in the last quarter. Heritage Family Offices LLP acquired a new position in shares of DoorDash in the 3rd quarter worth approximately $420,000. Finally, Kestra Advisory Services LLC increased its holdings in shares of DoorDash by 1,194.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 92,034 shares of the company’s stock valued at $16,893,000 after acquiring an additional 84,926 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 23,125 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $188.71, for a total value of $4,363,918.75. Following the sale, the director directly owned 10,361 shares in the company, valued at approximately $1,955,224.31. This trade represents a 69.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 8,738 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $180.85, for a total transaction of $1,580,267.30. Following the transaction, the chief operating officer directly owned 921,473 shares of the company’s stock, valued at approximately $166,648,392.05. This trade represents a 0.94% decrease in their position. 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 valued at $76,644,002 over the last three months. 44.90% of the stock is currently owned by company insiders.

DoorDash Stock Down 0.1%

NASDAQ:DASH opened at $179.67 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $193.38 and a 200-day moving average of $182.51. The firm has a market capitalization of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $239.00.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on DoorDash from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Argus lifted their price objective on shares of DoorDash from $190.00 to $270.00 in a report on Thursday, August 27th. TD Cowen reiterated a “buy” rating on shares of DoorDash in a research note on Tuesday, October 27th. Bank of America reiterated a “buy” rating on shares of DoorDash in a research note on Friday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $248.66.

Key Stories Impacting DoorDash

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

About DoorDash

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.