DoorDash, Inc. $DASH Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 22.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 47,282 shares of the company’s stock after acquiring an additional 8,724 shares during the period. Cetera Investment Advisers’ holdings in DoorDash were worth $7,099,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DASH. Coronation Fund Managers Ltd. purchased a new position in DoorDash during the first quarter worth $29,240,000. Militia Capital Management LLC acquired a new position in shares of DoorDash in the first quarter worth $348,000. Westpac Banking Corp lifted its position in shares of DoorDash by 111.9% in the first quarter. Westpac Banking Corp now owns 15,704 shares of the company’s stock valued at $2,358,000 after acquiring an additional 8,294 shares in the last quarter. Himension Capital Singapore PTE. LTD. lifted its position in shares of DoorDash by 38.7% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 5,706 shares of the company’s stock valued at $857,000 after acquiring an additional 1,591 shares in the last quarter. Finally, Temasek Holdings Private Ltd lifted its position in shares of DoorDash by 49.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after acquiring an additional 1,145,078 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $196.16 on Friday. The stock has a market capitalization of $85.47 billion, a price-to-earnings ratio of 93.41 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The stock’s fifty day simple moving average is $175.61 and its 200-day simple moving average is $174.92.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. Equities research analysts expect that DoorDash, Inc. will post 2.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Cowen reiterated a “buy” rating on shares of DoorDash in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a research note on Thursday, May 7th. Moffett Nathanson set a $276.00 target price on shares of DoorDash in a report on Wednesday, April 15th. Susquehanna decreased their price target on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a research note on Friday, May 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.89.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their position. The sale 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 Stanley Tang sold 23,125 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. 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 74,927 shares of company stock worth $13,241,532 over the last ninety days. Insiders own 5.83% of the company’s stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving FAA Part 135 certification, allowing it to operate commercial drone deliveries in the U.S. The initiative could eventually reduce reliance on delivery labor and improve margins by shifting toward a more automated, fixed-asset logistics model. DoorDash gains FAA certification to operate its own drone delivery program
• Positive Sentiment: Management’s experience with fast-food delivery, including a previously questioned Taco Bell partnership, suggests consumers remain willing to pay delivery fees for convenience. That supports continued demand and DoorDash’s long-term order-growth outlook. DoorDash CEO delivery fast food article

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.