Monetta Financial Services Inc. Takes Position in DoorDash, Inc. $DASH

Monetta Financial Services Inc. acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 5,500 shares of the company’s stock, valued at approximately $1,015,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DASH. MV Capital Management Inc. bought a new position in shares of DoorDash in the fourth quarter worth about $26,000. Swiss RE Ltd. purchased a new stake in DoorDash in the fourth quarter valued at about $28,000. ST Germain D J Co. Inc. purchased a new stake in DoorDash during the 4th quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $32,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a research note on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 target price on DoorDash in a research report on Tuesday, May 12th. Citigroup boosted their price objective on DoorDash from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Guggenheim reiterated a “buy” rating and set a $255.00 price target on shares of DoorDash in a report on Tuesday, June 23rd. Finally, Wedbush initiated coverage on DoorDash in a research report on Thursday, July 16th. They issued a “neutral” rating and a $205.00 target price for the company. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.09.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Zacks upgrade: Zacks Research raised DoorDash from “strong sell” to “hold,” reducing a notable source of negative sentiment around the stock. Zacks.com
• Positive Sentiment: Broader retail strategy: DoorDash is promoting back-to-school shopping through partnerships with Barnes & Noble, Carter’s and Kohl’s, supporting its effort to increase order frequency and diversify revenue beyond meals. DoorDash Makes Back-to-School Shopping Easier
• Positive Sentiment: New product category: DoorDash has begun selling video games, another move to broaden its marketplace and capture additional consumer spending, although the offering reportedly does not involve standard doorstep delivery. DoorDash Starts Selling Video Games
• Neutral Sentiment: Autonomous delivery developments: DoorDash and Grubhub are reportedly taking delivery robots that Uber did not want. The development could improve delivery efficiency over time, but the financial benefits and implementation costs are not yet clear. Grubhub and DoorDash Take Delivery Robots
• Neutral Sentiment: Market context: A report on recent large stock moves noted that DoorDash ticked higher while Serve Robotics fell after cutting guidance, suggesting investor focus on execution and the economics of delivery automation. Serve Robotics and DoorDash Market Moves
• Negative Sentiment: Legal overhang: Separate lawsuits involving DoorDash drivers and a fatal incident connected to a DoorDash pickup could create reputational or liability concerns, though the reports do not indicate a material financial impact on the company. DoorDash Drivers Sue Police Chief Lawsuit Following Fatal DoorDash Pickup

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were 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 owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 582 shares of DoorDash stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the transaction, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. This trade represents a 1.83% 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. Insiders sold a total of 142,620 shares of company stock valued at $26,822,778 over the last ninety days. 5.28% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

DASH stock opened at $220.22 on Thursday. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $189.94 and a 200-day moving average of $174.97. The company has a market cap of $95.42 billion, a price-to-earnings ratio of 115.30 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities analysts expect that DoorDash, Inc. will post 2.44 EPS for the current fiscal year.

DoorDash Company 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.