Harbour Wealth Management Group Inc. Takes Position in DoorDash, Inc. $DASH

Harbour Wealth Management Group Inc. purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,324 shares of the company’s stock, valued at approximately $649,000.

A number of other large investors also recently bought and sold shares of DASH. Vanguard Group Inc. boosted its position in DoorDash by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. SC US Ttgp LTD. increased its position in shares of DoorDash by 1.6% in the fourth quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after buying an additional 506,358 shares in the last quarter. Morgan Stanley raised its stake in shares of DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock worth $3,971,741,000 after buying an additional 391,596 shares during the period. State Street Corp raised its stake in shares of DoorDash by 3.0% during the 4th quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after buying an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after buying an additional 3,447,754 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 0.8%

Shares of DASH stock opened at $172.08 on Tuesday. The stock’s fifty day moving average is $164.42 and its two-hundred day moving average is $182.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $74.98 billion, a P/E ratio of 81.94 and a beta of 1.83. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. Research analysts expect that DoorDash, Inc. will post 2.44 earnings per share for the current fiscal year.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is drawing publicity from a World Cup-related marketing partnership featuring T-Pain, helping keep the brand in the conversation and adding visibility for the company’s advertising efforts. Article Title
• Positive Sentiment: The company also received attention for a Father’s Day themed food recommendation list and a high-profile DoorDash ad featuring Brooklyn Beckham, which suggests continued spending on marketing and brand awareness. Article Title
• Neutral Sentiment: Some of the coverage is largely social-media and entertainment chatter, including reactions to DoorDash repeatedly tagging T-Pain in World Cup posts. This is mostly a publicity story and may have limited direct financial impact. Article Title
• Negative Sentiment: DoorDash is also facing reputational pressure after multiple reports of scammers targeting drivers with fake support calls, with drivers reportedly losing money and bank information. That could raise concerns about platform security and trust. Article Title
• Negative Sentiment: Another negative headline involved a DoorDash delivery robot reportedly getting in the way of an active SWAT scene, which could prompt questions about operational oversight and safety around the company’s autonomous delivery efforts. Article Title

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DASH shares. Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Piper Sandler dropped their target price on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Stifel Nicolaus cut their target price on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Argus set a $190.00 price target on shares of DoorDash in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $256.11.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 21,433 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. This represents a 52.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This represents a 2.09% 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. In the last three months, insiders sold 58,558 shares of company stock valued at $9,324,940. Corporate insiders own 5.83% of the company’s stock.

DoorDash Profile

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.