Rakuten Investment Management Inc. Purchases 9,451 Shares of DoorDash, Inc. $DASH

Rakuten Investment Management Inc. raised its holdings in DoorDash, Inc. (NASDAQ:DASH) by 10.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 102,629 shares of the company’s stock after acquiring an additional 9,451 shares during the period. Rakuten Investment Management Inc.’s holdings in DoorDash were worth $19,202,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Provenance Wealth Advisors LLC acquired a new position in shares of DoorDash in the 3rd quarter valued at about $61,000. Lyell Wealth Management LP grew its stake in shares of DoorDash by 10.0% in the third quarter. Lyell Wealth Management LP now owns 3,313 shares of the company’s stock valued at $608,000 after buying an additional 300 shares in the last quarter. Putney Financial Group LLC acquired a new stake in shares of DoorDash in the third quarter valued at about $71,000. Signature Equity Partners LLC raised its holdings in shares of DoorDash by 213.5% during the 3rd quarter. Signature Equity Partners LLC now owns 163 shares of the company’s stock valued at $30,000 after buying an additional 111 shares during the period. Finally, Traynor Capital Management Inc. purchased a new stake in shares of DoorDash during the 3rd quarter valued at about $1,035,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 19,505 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the completion of the transaction, the chief financial officer directly owned 232,938 shares in the company, valued at $51,390,781.56. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andy Fang sold 15,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total transaction of $3,424,650.00. 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 have sold a total of 349,430 shares of company stock valued at $76,644,002 over the last ninety days. Insiders own 44.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DASH shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $240.00 price objective on shares of DoorDash in a research report on Friday, October 30th. Moffett Nathanson reduced their target price on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Mizuho set a $255.00 target price on shares of DoorDash in a research note on Friday, October 30th. Benchmark raised their price target on shares of DoorDash from $270.00 to $295.00 in a report on Thursday, August 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $250.00 price target on shares of DoorDash in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $249.88.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Uber reported 22% growth in delivery bookings, lifting delivery and ride-hailing stocks and reinforcing expectations for continued demand in DoorDash’s core marketplace. DoorDash Soars as Uber Reports Delivery Growth
• Positive Sentiment: DoorDash’s Q3 results beat estimates, while grocery expansion and the proposed Instacart acquisition offer potential for broader reach and synergies. DASH Q3 Earnings Call Focuses on Instacart Deal and Grocery Expansion
• Neutral Sentiment: DoorDash is introducing personalized AI recommendations to help Dashers plan their working hours. The feature may improve delivery planning, though its financial impact is not yet clear. DoorDash Adds Personalized AI Recommendations
• Neutral Sentiment: CEO Tony Xu is scheduled to speak at the TomorrowX Summit on November 18; the announcement did not include new business or financial guidance. DoorDash CEO to Participate in TomorrowX Summit
• Negative Sentiment: The proposed Instacart deal is drawing attention to DoorDash’s pricing and Dasher pay from the FTC, creating potential regulatory uncertainty around the transaction. FTC Turns to DoorDash Pricing and Dasher Pay
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, reducing his holdings by 69%. The sale was made under a pre-arranged Rule 10b5-1 plan, which may temper its significance as a signal. SEC filing for Stanley Tang share sale

DoorDash Stock Up 8.3%

NASDAQ:DASH opened at $198.59 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.46. The company has a market capitalization of $86.05 billion, a price-to-earnings ratio of 82.06 and a beta of 1.98. DoorDash, Inc. has a one year low of $143.30 and a one year high of $241.51. The stock has a 50-day simple moving average of $195.56 and a 200 day simple moving average of $182.77.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data 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 firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. Sell-side analysts predict that DoorDash, Inc. will post 2.68 EPS for the current fiscal year.

About DoorDash

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.