DoorDash, Inc. $DASH Position Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,629 shares of the company’s stock after purchasing an additional 9,451 shares during the period. Rakuten Investment Management Inc.’s holdings in DoorDash were worth $19,202,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Provenance Wealth Advisors LLC purchased a new position in DoorDash during the third quarter valued at $61,000. Lyell Wealth Management LP raised its position in shares of DoorDash by 10.0% during the 3rd quarter. Lyell Wealth Management LP now owns 3,313 shares of the company’s stock valued at $608,000 after purchasing an additional 300 shares during the period. Putney Financial Group LLC bought a new position in shares of DoorDash in the third quarter worth about $71,000. Signature Equity Partners LLC boosted its position in shares of DoorDash by 213.5% during the third quarter. Signature Equity Partners LLC now owns 163 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the last quarter. Finally, Traynor Capital Management Inc. bought a new stake in DoorDash in the 3rd quarter worth approximately $1,035,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Up 8.3%

Shares of NASDAQ DASH opened at $198.59 on Thursday. The business’s 50 day moving average is $195.56 and its two-hundred day moving average is $182.77. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $241.51. The firm has a market cap of $86.05 billion, a price-to-earnings ratio of 82.06 and a beta of 1.98.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the prior year, the business earned $0.55 EPS. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. Research analysts predict that DoorDash, Inc. will post 2.68 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on DASH. Guggenheim restated a “buy” rating and set a $255.00 price target on shares of DoorDash in a report on Wednesday, October 14th. Benchmark raised their target price on shares of DoorDash from $270.00 to $295.00 in a research note on Thursday, August 6th. Bank of America reaffirmed a “buy” rating on shares of DoorDash in a research report on Friday, October 30th. TD Cowen reissued a “buy” rating on shares of DoorDash in a report on Tuesday, October 27th. Finally, Scotiabank decreased their target price on DoorDash from $275.00 to $235.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.88.

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 8,738 shares of the company’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 transaction of $1,580,267.30. Following the completion of the sale, the chief operating officer directly owned 921,473 shares of the company’s stock, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the 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 completion of the transaction, the director owned 10,361 shares of the company’s stock, valued at $1,955,224.31. The trade was a 69.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 349,430 shares of company stock valued at $76,644,002 over the last quarter. 44.90% of the stock is owned by corporate insiders.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Uber reported 22% growth in delivery bookings, lifting delivery and ride-hailing stocks and reinforcing expectations for continued demand in DoorDash’s core marketplace. DoorDash Soars as Uber Reports Delivery Growth
• Positive Sentiment: DoorDash’s Q3 results beat estimates, while grocery expansion and the proposed Instacart acquisition offer potential for broader reach and synergies. DASH Q3 Earnings Call Focuses on Instacart Deal and Grocery Expansion
• Neutral Sentiment: DoorDash is introducing personalized AI recommendations to help Dashers plan their working hours. The feature may improve delivery planning, though its financial impact is not yet clear. DoorDash Adds Personalized AI Recommendations
• Neutral Sentiment: CEO Tony Xu is scheduled to speak at the TomorrowX Summit on November 18; the announcement did not include new business or financial guidance. DoorDash CEO to Participate in TomorrowX Summit
• Negative Sentiment: The proposed Instacart deal is drawing attention to DoorDash’s pricing and Dasher pay from the FTC, creating potential regulatory uncertainty around the transaction. FTC Turns to DoorDash Pricing and Dasher Pay
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, reducing his holdings by 69%. The sale was made under a pre-arranged Rule 10b5-1 plan, which may temper its significance as a signal. SEC filing for Stanley Tang share sale

DoorDash Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.