23,367 DoorDash, Inc. $DASH Shares Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 642.7% in the third quarter, HoldingsChannel.com reports. The firm owned 27,003 shares of the company’s stock after purchasing an additional 23,367 shares during the period. Phoenix Financial Ltd.’s holdings in DoorDash were worth $4,956,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. City State Bank grew its position in shares of DoorDash by 56.0% in the 3rd quarter. City State Bank now owns 156 shares of the company’s stock worth $29,000 after buying an additional 56 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in shares of DoorDash by 81.0% during the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock valued at $26,000 after buying an additional 64 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of DoorDash by 2.7% during the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock valued at $465,000 after buying an additional 67 shares during the period. Fairscale Capital LLC raised its holdings in shares of DoorDash by 128.6% during the third quarter. Fairscale Capital LLC now owns 144 shares of the company’s stock valued at $25,000 after acquiring an additional 81 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of DoorDash by 3.0% during the third quarter. Raleigh Capital Management Inc. now owns 2,868 shares of the company’s stock valued at $526,000 after acquiring an additional 84 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Recent DoorDash Headlines

These are some of the DASH headlines that stood out recently:

• Neutral Sentiment: Coverage reported that independent grocers support a potential DoorDash–Instacart merger. This reflects some industry backing, but the headline alone does not establish that a deal is planned or quantify its likelihood or impact. Article: Independent Grocers Support DoorDash-Instacart Merger
• Neutral Sentiment: DoorDash plans to test a weather-resilient robot delivery system in Salt Lake City. The pilot could eventually inform delivery efficiency, but its financial contribution is not yet clear. Article: DoorDash to test weather-resilient robot delivery system in Salt Lake City
• Negative Sentiment: Amazon’s offer of free Uber Eats delivery to Prime members could intensify competition for DoorDash, potentially challenging order volume, customer retention, and the value of its DashPass membership. This competitive concern is cited in coverage of DASH’s recent weekly decline. Article: DoorDash Sinks 10% in a Week as Amazon Gives Prime Members Free Uber Eats Delivery

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research analyst reports. Moffett Nathanson reduced their price objective on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of DoorDash in a report on Tuesday, October 27th. Raymond James Financial reaffirmed a “buy” rating on shares of DoorDash in a research report on Thursday, September 3rd. Guggenheim reaffirmed a “buy” rating and set a $255.00 target price on shares of DoorDash in a research note on Wednesday, October 14th. Finally, Barclays reduced their price target on shares of DoorDash from $230.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.45.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 8,738 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $180.85, for a total value of $1,580,267.30. Following the transaction, the chief operating officer owned 921,473 shares in the company, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Keith Yandell sold 2,183 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $183.69, for a total value of $400,995.27. Following the completion of the transaction, the chief operating officer directly owned 118,505 shares in the company, valued at approximately $21,768,183.45. This represents a 1.81% 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. Insiders have sold 349,430 shares of company stock valued at $76,644,002 in the last 90 days. 44.90% of the stock is owned by company insiders.

DoorDash Stock Down 0.6%

DoorDash stock traded down $1.07 during mid-day trading on Friday, reaching $171.51. The stock had a trading volume of 5,259,525 shares, compared to its average volume of 5,785,146. The company has a market capitalization of $74.77 billion, a price-to-earnings ratio of 70.87, a PEG ratio of 1.43 and a beta of 1.98. The company has a 50-day moving average price of $188.16 and a two-hundred day moving average price of $181.73. DoorDash, Inc. has a one year low of $143.30 and a one 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 released its quarterly earnings data on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.25. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the prior year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. On average, analysts expect that DoorDash, Inc. will post 2.69 EPS for the current fiscal year.

DoorDash 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.