133,917 Shares in DoorDash, Inc. $DASH Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 133,917 shares of the company’s stock, valued at approximately $24,580,000. DoorDash makes up 1.1% of Fulcrum Asset Management LLP’s holdings, making the stock its 11th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in DASH. Janus Henderson Group PLC boosted its stake in DoorDash by 40.2% during the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after buying an additional 2,225,954 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of DoorDash by 2,304.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock worth $633,635,000 after acquiring an additional 3,308,512 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of DoorDash by 372.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after acquiring an additional 2,472,980 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in shares of DoorDash by 49.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock worth $519,744,000 after acquiring an additional 1,145,078 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of DoorDash by 18.4% during the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after acquiring an additional 536,080 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Trending Headlines about DoorDash

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

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 8,738 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $180.85, for a total value of $1,580,267.30. Following the sale, the chief operating officer owned 921,473 shares of the company’s stock, valued at $166,648,392.05. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $188.71, for a total value of $4,363,918.75. Following the transaction, the director owned 10,361 shares in the company, valued at $1,955,224.31. This trade represents a 69.06% decrease in their ownership of the stock. 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. Insiders have sold 349,430 shares of company stock worth $76,644,002 in the last three months. Company insiders own 44.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho set a $255.00 price target on shares of DoorDash in a research report on Friday, October 30th. Roth Capital upped their price objective on shares of DoorDash from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, August 10th. The Goldman Sachs Group cut their price objective on shares of DoorDash from $280.00 to $275.00 in a research report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of DoorDash in a research note on Tuesday, October 27th. Finally, Truist Financial lifted their target price on shares of DoorDash from $336.00 to $340.00 and gave the stock a “buy” rating 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 issued a Hold rating to the company. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $248.66.

DoorDash Price Performance

Shares of DASH opened at $179.67 on Monday. The firm has a 50-day simple moving average of $193.38 and a two-hundred day simple moving average of $182.51. The stock has a market cap of $77.85 billion, a PE ratio of 74.24 and a beta of 1.98. DoorDash, Inc. has a 1-year low of $143.30 and a 1-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 issued its quarterly earnings data on Thursday, October 29th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.81 by $0.25. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. As a group, analysts forecast that DoorDash, Inc. will post 2.68 EPS for the current year.

About DoorDash

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.