Pictet Asset Management Holding SA Acquires 207,086 Shares of DoorDash, Inc. $DASH

Pictet Asset Management Holding SA grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 35.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 786,379 shares of the company’s stock after buying an additional 207,086 shares during the period. Pictet Asset Management Holding SA’s holdings in DoorDash were worth $118,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eastern Bank increased its stake in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $26,000. Swiss RE Ltd. bought a new stake in shares of DoorDash in the 4th quarter worth approximately $28,000. ST Germain D J Co. Inc. bought a new stake in shares of DoorDash in the 4th quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of DoorDash in the 4th quarter worth approximately $32,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

DoorDash Price Performance

Shares of NASDAQ DASH opened at $183.42 on Monday. The firm has a market cap of $79.92 billion, a P/E ratio of 87.34 and a beta of 1.83. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $165.50 and a 200 day moving average of $181.54.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company’s revenue was up 33.1% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. As a group, research analysts expect that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial reduced their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Argus set a $190.00 target price on DoorDash in a report on Thursday, June 11th. Guggenheim reissued a “buy” rating and issued a $255.00 target price on shares of DoorDash in a research note on Tuesday, June 23rd. DA Davidson reduced their price target on DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Finally, TD Cowen initiated coverage on DoorDash in a research report on Monday, April 27th. They issued a “buy” rating and a $225.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.11.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the sale, the general counsel directly owned 128,216 shares in the company, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their position. 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. Over the last ninety days, insiders have sold 63,558 shares of company stock valued at $10,224,940. Insiders own 5.83% of the company’s stock.

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.