Nellore Capital Management LLC Reduces Position in DoorDash, Inc. $DASH

Nellore Capital Management LLC trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 6.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 201,435 shares of the company’s stock after selling 14,568 shares during the period. DoorDash makes up about 4.1% of Nellore Capital Management LLC’s holdings, making the stock its 8th largest holding. Nellore Capital Management LLC’s holdings in DoorDash were worth $37,171,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Nykredit A S acquired a new position in DoorDash during the 2nd quarter worth $30,166,000. B. Metzler seel. Sohn & Co. AG boosted its holdings in DoorDash by 40.8% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 16,917 shares of the company’s stock valued at $3,122,000 after acquiring an additional 4,900 shares during the period. Vanguard Capital Wealth Advisors acquired a new stake in shares of DoorDash in the second quarter valued at about $221,000. Proficio Capital Partners LLC acquired a new stake in shares of DoorDash in the second quarter valued at about $243,000. Finally, Spyglass Capital Management LLC increased its stake in shares of DoorDash by 33.6% in the second quarter. Spyglass Capital Management LLC now owns 398,484 shares of the company’s stock worth $73,532,000 after purchasing an additional 100,308 shares during the period. 90.64% of the stock is owned by institutional investors.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt initiated coverage with a “Buy”/“Strong Buy” rating and a $270 price target, implying roughly 19% upside from the referenced price. The firm said easing headwinds create a more attractive buying opportunity, giving DASH a new bullish Wall Street catalyst. Rosenblatt initiates coverage of DoorDash with buy recommendation
• Positive Sentiment: DoorDash is adding major retail partners including Gap and Kohl’s, expanding delivery availability beyond restaurants and potentially increasing order frequency, gross bookings and consumer reach. Gap and Kohl’s add DoorDash delivery option
• Positive Sentiment: DoorDash partnered with Circana to independently validate advertising results for Sponsored Products and Sponsored Brands. Demonstrating incremental sales and new-customer demand could improve advertiser confidence, support larger marketing budgets and strengthen DoorDash’s higher-margin retail-media business. Circana and DoorDash partner to validate incremental sales
• Neutral Sentiment: DoorDash published rankings of popular burger and hot-dog restaurants. The publicity reinforces consumer engagement and the breadth of DoorDash’s data, but is unlikely to materially affect earnings. Top-rated burger and hot-dog spots according to DoorDash data
• Negative Sentiment: Reports involving a DoorDash driver delivering an order naked, an armed confrontation over a missing drink, and a fatal vehicle accident create isolated reputational and safety concerns. DoorDash’s permanent ban in the first case limits direct operational exposure, but these incidents could renew scrutiny of driver screening, safety procedures and potential liability. DoorDash bans driver after naked delivery Armed confrontation over missing DoorDash drink

Insiders Place Their Bets

In other news, General Counsel Tia Sherringham sold 2,265 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $227.64, for a total value of $515,604.60. Following the sale, the general counsel owned 118,262 shares of the company’s stock, valued at approximately $26,921,161.68. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 55,289 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the sale, the chief operating officer owned 930,211 shares of the company’s stock, valued at $215,585,701.36. This trade represents a 5.61% decrease in their position. 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 337,674 shares of company stock worth $72,974,540 in the last quarter. 44.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Piper Sandler reissued a “neutral” rating and set a $220.00 price objective (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. Roth Capital upped their price target on DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Barclays cut DoorDash from an “equal weight” rating to a “strong sell” rating in a research report on Monday, August 24th. Susquehanna boosted their target price on shares of DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, Argus set a $190.00 target price on shares of DoorDash in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.97.

DoorDash Trading Up 0.3%

Shares of DASH opened at $226.24 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock has a market cap of $98.03 billion, a PE ratio of 118.45 and a beta of 1.79. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The stock has a 50 day simple moving average of $202.34 and a 200-day simple moving average of $177.88.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the company earned $0.65 earnings per share. The business’s revenue was up 35.6% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

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.