14,330 Shares in DoorDash, Inc. $DASH Purchased by Empirical Finance LLC

Empirical Finance LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the 2nd quarter, Holdings Channel reports. The firm bought 14,330 shares of the company’s stock, valued at approximately $2,644,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. MV Capital Management Inc. acquired a new stake in shares of DoorDash during the 4th quarter valued at approximately $26,000. Washington Trust Advisors Inc. boosted its stake in shares of DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after acquiring an additional 64 shares in the last quarter. Swiss RE Ltd. acquired a new stake in shares of DoorDash in the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. acquired a new stake in shares of DoorDash in the 4th quarter worth approximately $32,000. Finally, Sunbelt Securities Inc. increased its stake in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is partnering with SKIMS to provide on-demand delivery for last-minute wardrobe needs. The arrangement expands DoorDash’s non-restaurant retail business and could increase order frequency and consumer use cases. SKIMS DoorDash partnership
• Positive Sentiment: DoorDash is promoting football-season rewards, including a large cash prize, a vehicle and other incentives. The campaign is designed to drive weekend orders and customer engagement, although the direct financial impact is uncertain. DoorDash football rewards
• Positive Sentiment: A Seeking Alpha analysis maintained a bullish view, citing 36% year-over-year second-quarter revenue growth to $4.45 billion, 23% organic marketplace GOV growth and a 40% increase in adjusted EBITDA to $914 million. The report also highlighted continued DashPass subscriber growth and margin expansion. DoorDash growth analysis
• Positive Sentiment: DoorDash Labs was named Innovation Team of the Year, providing reputational support for the company’s technology and logistics initiatives, though the award has limited near-term earnings significance. DoorDash Labs award
• Neutral Sentiment: Media coverage of an individual delivery experience and DoorDash tipping does not appear material to the company’s financial outlook. DoorDash delivery story
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million under a pre-arranged Rule 10b5-1 plan. Another report cited roughly $6.97 million in director stock sales. Planned transactions reduce the signal’s significance, but insider selling can weigh on sentiment, particularly while DASH trades at a high earnings multiple. DoorDash insider sale

DoorDash Stock Down 5.3%

Shares of NASDAQ:DASH opened at $200.44 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $86.85 billion, a P/E ratio of 104.94 and a beta of 1.79. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The stock’s fifty day simple moving average is $204.67 and its 200-day simple moving average is $179.21.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday, August 24th. Benchmark lowered their target price on DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. TD Cowen raised their price target on DoorDash from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Guggenheim reaffirmed a “buy” rating and set a $255.00 price target on shares of DoorDash in a research note on Tuesday, June 23rd. Finally, Roth Capital boosted their price objective on shares of DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.97.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 30,835 shares of DoorDash stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $225.98, for a total transaction of $6,968,093.30. Following the completion of the sale, the director directly owned 10,361 shares in the company, valued at $2,341,378.78. The trade was a 74.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 55,289 shares of DoorDash stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the sale, the chief operating officer owned 930,211 shares of the company’s stock, valued at approximately $215,585,701.36. This trade represents a 5.61% 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 sold 399,553 shares of company stock worth $87,034,140 over the last three months. Company insiders own 44.90% of the company’s stock.

DoorDash Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.