NEOS Investment Management LLC Has $58.46 Million Holdings in DoorDash, Inc. $DASH

NEOS Investment Management LLC grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 316,828 shares of the company’s stock after purchasing an additional 43,668 shares during the quarter. NEOS Investment Management LLC owned approximately 0.07% of DoorDash worth $58,464,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in DoorDash in the fourth quarter valued at approximately $1,093,650,000. Wellington Management Group LLP raised its position in shares of DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock valued at $1,241,494,000 after acquiring an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 32.8% during the 4th 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 acquiring an additional 3,447,754 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of DoorDash by 40.2% in the 1st 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 lifted its stake in shares of DoorDash by 77.8% in the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after purchasing an additional 1,910,488 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of DASH stock opened at $222.00 on Friday. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The firm has a market capitalization of $96.19 billion, a price-to-earnings ratio of 116.23 and a beta of 1.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $203.24 and a 200-day moving average of $178.31.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. DoorDash’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, equities research analysts forecast that DoorDash, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Benchmark decreased their price objective on DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Rosenblatt Securities assumed coverage on DoorDash in a research note on Tuesday. They issued a “buy” rating and a $270.00 target price on the stock. Wells Fargo & Company raised their target price on DoorDash from $199.00 to $225.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Rothschild & Co Redburn set a $350.00 price target on DoorDash in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $254.97.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Strong Buy rating, adding a favorable analyst view to DoorDash’s outlook and potentially supporting the stock’s valuation. Rosenblatt initiates coverage of DoorDash
• Positive Sentiment: DoorDash expanded its merchant and advertising ecosystem. Gap and Kohl’s are among retailers adding DoorDash delivery, while a partnership with Circana will provide independent validation of advertising-driven sales. Better measurement could make DoorDash’s retail-media business more attractive to consumer packaged goods advertisers. Retailers adding DoorDash delivery Circana and DoorDash advertising partnership
• Positive Sentiment: A new Live Nation partnership is designed to create food and fan-experience opportunities around live events, potentially adding engagement and order volume beyond DoorDash’s traditional restaurant business. DoorDash and Live Nation partnership
• Neutral Sentiment: Sands Capital Select Growth Fund sold its DoorDash position during the second quarter. The transaction may raise questions about institutional conviction, although it does not necessarily reflect DoorDash’s current operating outlook. Sands Capital sold DoorDash shares
• Negative Sentiment: Walmart is entering restaurant delivery through a new Dunkin’ partnership. The move could intensify competition with DoorDash and Uber Eats, particularly if Walmart uses its scale, customer base or delivery network to gain share. Walmart expands restaurant delivery
• Negative Sentiment: Multiple reports of problematic driver behavior and disputes over driver pay create potential reputational, customer-retention and regulatory risks, although the incidents appear isolated and DoorDash has removed or banned drivers involved in some cases. DoorDash delivery complaint DoorDash driver pay dispute

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 55,289 shares of the firm’s 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 ownership of the stock. The transaction 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 Stanley Tang sold 72,367 shares of DoorDash stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $225.16, for a total value of $16,294,153.72. Following the transaction, the director owned 10,361 shares in the company, valued at $2,332,882.76. This trade represents a 87.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 353,718 shares of company stock valued at $76,641,397 in the last three months. Insiders own 44.90% of the company’s stock.

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.