Cache Advisors LLC Sells 61,159 Shares of DoorDash, Inc. $DASH

Cache Advisors LLC trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 63.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,271 shares of the company’s stock after selling 61,159 shares during the period. DoorDash accounts for approximately 0.6% of Cache Advisors LLC’s holdings, making the stock its 15th largest holding. Cache Advisors LLC’s holdings in DoorDash were worth $5,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. AdvisorNet Financial Inc grew its holdings in DoorDash by 202.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,025 shares of the company’s stock worth $154,000 after acquiring an additional 686 shares during the last quarter. Harbour Wealth Management Group Inc. bought a new position in DoorDash in the 1st quarter valued at $649,000. PKO Investment Management Joint Stock Co increased its stake in shares of DoorDash by 15.4% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 15,000 shares of the company’s stock valued at $2,252,000 after buying an additional 2,000 shares during the period. Diversified Trust Co raised its position in shares of DoorDash by 44.6% during the first quarter. Diversified Trust Co now owns 2,520 shares of the company’s stock worth $378,000 after acquiring an additional 777 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of DoorDash by 85.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 45,958 shares of the company’s stock valued at $10,409,000 after acquiring an additional 21,221 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Guggenheim reaffirmed its Buy rating on DoorDash and set a $255 price target, implying substantial upside from recent trading levels. This kind of analyst endorsement can help support the stock. Benzinga coverage of Guggenheim rating
• Neutral Sentiment: DoorDash’s playful World Cup marketing involving T-Pain was widely discussed online, but the coverage appears to be more of a brand-awareness story than a direct business or earnings driver. The Verge article on DoorDash and T-Pain partnership
• Negative Sentiment: Several reports highlighted DoorDash-related scams targeting drivers, including fake support calls that allegedly caused drivers to lose money. That can raise concerns about platform safety and trust. Yahoo article on Minnesota driver scam
• Negative Sentiment: News that a DoorDash delivery robot got in the way of a SWAT operation is likely to generate unwanted attention around the company’s delivery technology and operations, even if it was an isolated incident. MSN article on DoorDash robot at SWAT scene

DoorDash Stock Performance

DASH stock opened at $171.52 on Wednesday. The business’s 50-day moving average price is $164.80 and its two-hundred day moving average price is $182.48. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm has a market cap of $74.73 billion, a PE ratio of 81.68 and a beta of 1.83. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the sale, the director directly owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 58,558 shares of company stock worth $9,324,940. Company insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Truist Financial cut their price objective on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a research note on Tuesday, May 12th. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a report on Thursday, May 7th. Finally, Guggenheim reiterated a “buy” rating and set a $255.00 target price on shares of DoorDash in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.11.

DoorDash Company Profile

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.