Cohen Capital Management Inc. Makes New Investment in DoorDash, Inc. $DASH

Cohen Capital Management Inc. purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,222 shares of the company’s stock, valued at approximately $4,839,000.

A number of other large investors also recently bought and sold shares of DASH. Norges Bank purchased a new stake in shares of DoorDash during the 4th quarter worth $1,093,650,000. Wellington Management Group LLP grew its position in DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after buying an additional 3,447,754 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares during the period. Finally, Coatue Management LLC raised its position in DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after buying an additional 1,910,488 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 2.9%

Shares of NASDAQ DASH opened at $213.26 on Friday. The company’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $174.48. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 111.65 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 (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.49% and a net margin of 5.29%.The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Equities analysts predict that DoorDash, Inc. will post 2.38 EPS for the current fiscal year.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Second-quarter revenue rose 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, membership programs and monthly active users supported the company’s expansion narrative. DoorDash Q2 Financial Results
• Positive Sentiment: DoorDash provided stronger-than-expected third-quarter forecasts, indicating that demand for food, grocery and convenience delivery remains resilient and helping offset concerns about near-term profitability. DoorDash Strong Guidance
• Positive Sentiment: Management said improving growth and unit economics are helping fund investments in DashPass, artificial intelligence, autonomous delivery, merchant services and its global technology platform, reinforcing the longer-term growth strategy. DASH Q2 Earnings Call
• Positive Sentiment: Barclays raised its price target to $230, Cantor Fitzgerald lifted its target to $260 and maintained an overweight rating, while BTIG and Needham reaffirmed buy ratings with targets of $225 and $265, respectively. These actions signal continued confidence in DASH’s growth potential. DoorDash Analyst Actions
• Positive Sentiment: The FAA approved DoorDash for commercial drone deliveries in Charlotte, potentially creating a lower-cost fulfillment option and improving delivery economics over time. DoorDash FAA Air Carrier Approval
• Neutral Sentiment: DoorDash is continuing to test artificial intelligence and its Dot autonomous delivery robot, but management acknowledged operational challenges involving charging, loading and complex pickups, which could delay broad deployment. DoorDash Dot Robot Challenges
• Negative Sentiment: Second-quarter EPS was $0.46, slightly below the $0.47 consensus and down from $0.65 a year earlier. Higher costs of revenue, sales and marketing, overhead and research and development spending compressed profit despite the revenue beat. DoorDash Q2 Earnings Miss
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. Although scheduled, the transaction reduced his position by 62.7% and may add some investor caution. Stanley Tang DoorDash Share Sale

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of DoorDash from $223.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday. BTIG Research reissued a “buy” rating and issued a $225.00 price objective on shares of DoorDash in a report on Thursday. Citigroup upped their target price on DoorDash from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday. Guggenheim reaffirmed a “buy” rating and set a $255.00 target price on shares of DoorDash in a report on Tuesday, June 23rd. Finally, DA Davidson reduced their price target on DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Twenty-four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $252.00.

Insider Buying and Selling

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel owned 128,216 shares of the company’s stock, valued at $20,615,850.64. The trade was a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 dated 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 142,620 shares of company stock worth $26,822,778 in the last ninety days. Company insiders own 5.28% of the company’s stock.

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.