16,046 DoorDash, Inc. $DASH Shares Purchased by Asset Dedication LLC

Asset Dedication LLC boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 53,486.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,076 shares of the company’s stock after purchasing an additional 16,046 shares during the quarter. Asset Dedication LLC’s holdings in DoorDash were worth $2,951,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DASH. City State Bank boosted its position in DoorDash by 56.0% during the third quarter. City State Bank now owns 156 shares of the company’s stock worth $29,000 after purchasing an additional 56 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in DoorDash by 81.0% in 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 holdings in shares of DoorDash by 2.7% in the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock valued at $465,000 after purchasing an additional 67 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of DoorDash by 3.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 2,868 shares of the company’s stock valued at $526,000 after purchasing an additional 84 shares during the last quarter. Finally, Cowa LLC grew its stake in shares of DoorDash by 2.7% in the third quarter. Cowa LLC now owns 3,623 shares of the company’s stock worth $665,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 0.1%

Shares of NASDAQ:DASH opened at $179.67 on Friday. The business’s 50 day simple moving average is $193.38 and its two-hundred day simple moving average is $182.51. The firm has a market cap of $77.85 billion, a P/E ratio of 74.24 and a beta of 1.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.46. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $239.00.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.25. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, research analysts forecast that DoorDash, Inc. will post 2.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. KeyCorp dropped their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft boosted their target price on DoorDash from $255.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company dropped their price target on shares of DoorDash from $230.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, October 30th. Raymond James Financial reaffirmed a “buy” rating on shares of DoorDash in a research report on Thursday, September 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $240.00 price target on shares of DoorDash in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $248.66.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash’s Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 19,505 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the sale, the chief financial officer directly owned 232,938 shares in the company, valued at approximately $51,390,781.56. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Tony Xu sold 29,567 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $230.00, for a total value of $6,800,410.00. Following the transaction, the chief executive officer owned 1,500 shares of the company’s stock, valued at $345,000. This trade represents a 95.17% 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. In the last quarter, insiders have sold 349,430 shares of company stock valued at $76,644,002. 44.90% of the stock is currently owned by corporate insiders.

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.