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

QRG Capital Management Inc. increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 191.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,374 shares of the company’s stock after purchasing an additional 165,039 shares during the period. QRG Capital Management Inc. owned about 0.06% of DoorDash worth $46,386,000 at the end of the most recent reporting period.

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

DoorDash Trading Down 1.5%

Shares of NASDAQ DASH traded down $2.94 during midday trading on Wednesday, hitting $189.27. The stock had a trading volume of 5,832,573 shares, compared to its average volume of 4,690,309. The firm has a market cap of $82.01 billion, a P/E ratio of 99.09 and a beta of 1.79. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week 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 company’s 50-day simple moving average is $205.95 and its 200 day simple moving average is $180.84.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion for 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%. The company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. Research analysts anticipate that DoorDash, Inc. will post 2.51 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total value of $12,813,778.64. Following the transaction, the chief operating officer owned 930,211 shares of the company’s stock, valued at approximately $215,585,701.36. This trade represents a 5.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 72,367 shares of DoorDash stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the sale, the director owned 10,361 shares of the company’s stock, valued at approximately $2,332,882.76. This represents a 87.48% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 396,737 shares of company stock valued at $86,572,600. 44.90% of the stock is currently owned by company insiders.

Key DoorDash News

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DASH. Bank of America reissued a “buy” rating on shares of DoorDash in a research note on Thursday, August 6th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. UBS Group reiterated a “buy” rating and issued a $295.00 price objective on shares of DoorDash in a research note on Tuesday, September 8th. Benchmark lowered their price objective on DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, Roth Capital increased their target price on DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.47.

About DoorDash

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.