Kestra Advisory Services LLC Acquires 84,926 Shares of DoorDash, Inc. $DASH

Kestra Advisory Services LLC lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 1,194.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,034 shares of the company’s stock after buying an additional 84,926 shares during the period. Kestra Advisory Services LLC’s holdings in DoorDash were worth $16,893,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DASH. Janus Henderson Group PLC lifted its position in shares of DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after buying an additional 2,225,954 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock valued at $633,635,000 after acquiring an additional 3,308,512 shares during the last quarter. Assenagon Asset Management S.A. grew its position in DoorDash by 372.0% in the third quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock valued at $575,928,000 after acquiring an additional 2,472,980 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in DoorDash by 49.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock worth $519,744,000 after acquiring an additional 1,145,078 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in DoorDash by 18.4% during the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after acquiring an additional 536,080 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity

In related news, CFO Ravi Inukonda sold 19,505 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the sale, the chief financial officer owned 232,938 shares of the company’s stock, valued at $51,390,781.56. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Tony Xu sold 29,567 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $230.00, for a total value of $6,800,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at $345,000. The trade was a 95.17% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 349,430 shares of company stock valued at $76,644,002. 44.90% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $179.67 on Monday. The company has a 50 day simple moving average of $193.38 and a 200 day simple moving average of $182.51. The firm has a market cap of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $239.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.46.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, research analysts forecast that DoorDash, Inc. will post 2.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DASH shares. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a research note on Wednesday. Argus lifted their price target on shares of DoorDash from $190.00 to $270.00 in a report on Thursday, August 27th. Scotiabank lowered their price objective on shares of DoorDash from $275.00 to $235.00 and set a “sector outperform” rating for the company in a research report on Friday, October 30th. Truist Financial increased their price objective on shares of DoorDash from $336.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $250.00 price objective on shares of DoorDash in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.66.

Trending Headlines about 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

DoorDash Company Profile

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.