The Manufacturers Life Insurance Company Sells 38,706 Shares of DoorDash, Inc. $DASH

The Manufacturers Life Insurance Company cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 260,434 shares of the company’s stock after selling 38,706 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of DoorDash worth $39,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in DASH. CYBER HORNET ETFs LLC grew its stake in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after buying an additional 60 shares in the last quarter. Vise Technologies Inc. raised its position in DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares in the last quarter. Sunbelt Securities Inc. raised its position in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares in the last quarter. AXS Investments LLC lifted its stake in DoorDash by 1.3% in the fourth quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock valued at $1,232,000 after acquiring an additional 69 shares during the last quarter. Finally, Mutual Advisors LLC lifted its stake in DoorDash by 3.1% in the fourth quarter. Mutual Advisors LLC now owns 2,371 shares of the company’s stock valued at $537,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Up 2.1%

Shares of NASDAQ:DASH opened at $197.53 on Friday. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The stock has a market cap of $86.07 billion, a PE ratio of 94.06 and a beta of 1.78. The business has a 50 day moving average of $174.89 and a 200-day moving average of $174.77. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current year.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving FAA Part 135 certification, allowing it to operate commercial drone deliveries in the United States. The company plans to develop its own aircraft and an end-to-end aerial delivery network within its app. DoorDash launches in-house drone delivery program after FAA certification
• Positive Sentiment: The certification could give DoorDash a regulatory and technology advantage over smaller delivery competitors. Shifting some short- and mid-range orders from gig couriers to drones could reduce variable labor costs, ease driver shortages and improve margins as delivery volume builds. DoorDash’s Drone Certification Could Reshape Its Delivery Margins
• Positive Sentiment: Drone logistics may expand DoorDash beyond restaurant delivery into faster fulfillment for pharmaceuticals, perishables and higher-margin retail products. DoorDash already works with Wing and Flytrex, so the in-house program could complement existing partnerships while increasing control over the delivery network. DoorDash is building its own drone delivery business
• Neutral Sentiment: The drone strategy requires substantial upfront investment in aircraft, infrastructure and operations. Benefits to earnings and free cash flow will depend on regulatory approvals, customer adoption, route density and the ability to scale safely.
• Negative Sentiment: One recent analyst preview warned that DoorDash may report declining earnings in its upcoming results, raising the risk that near-term fundamentals will not justify the company’s premium valuation. Safety concerns could also slow adoption, with a report citing widespread public worries about drone safety. Analysts Estimate DoorDash to Report a Decline in Earnings

Wall Street Analyst Weigh In

Several research firms have issued reports on DASH. Zacks Research lowered DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Needham & Company LLC reiterated a “buy” rating and set a $265.00 target price on shares of DoorDash in a research note on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of DoorDash in a research note on Wednesday, July 15th. Guggenheim reissued a “buy” rating and set a $255.00 target price on shares of DoorDash in a report on Tuesday, June 23rd. Finally, Susquehanna dropped their price target on DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $252.89.

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.