DoorDash, Inc. $DASH Shares Acquired by Brighton Jones LLC

Brighton Jones LLC raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 108.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 26,398 shares of the company’s stock after purchasing an additional 13,764 shares during the quarter. Brighton Jones LLC’s holdings in DoorDash were worth $4,845,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Godsey & Gibb Inc. lifted its position in shares of DoorDash by 1,510,137.1% during the 3rd quarter. Godsey & Gibb Inc. now owns 528,583 shares of the company’s stock valued at $97,021,000 after acquiring an additional 528,548 shares during the last quarter. JCP Investment Management LLC bought a new stake in shares of DoorDash during the 1st quarter worth $991,000. Plato Investment Management Ltd bought a new stake in shares of DoorDash during the 2nd quarter worth $1,024,000. Quantinno Capital Management LP grew its holdings in shares of DoorDash by 4.9% in the 1st quarter. Quantinno Capital Management LP now owns 655,095 shares of the company’s stock worth $98,363,000 after acquiring an additional 30,881 shares during the last quarter. Finally, Monetta Financial Services Inc. acquired a new position in shares of DoorDash in the 2nd quarter worth $1,015,000. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 19,505 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total transaction of $4,303,193.10. Following the completion of the sale, the chief financial officer directly owned 232,938 shares in the company, valued at approximately $51,390,781.56. This trade represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andy Fang sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total transaction of $3,424,650.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 349,430 shares of company stock worth $76,644,002 over the last ninety days. 44.90% of the stock is currently owned by corporate insiders.

DoorDash Stock Performance

Shares of DASH stock opened at $179.67 on Monday. The company has a market capitalization of $77.85 billion, a price-to-earnings ratio of 74.24 and a beta of 1.98. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $239.00. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $193.38 and its 200-day simple moving average is $182.51.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group cut their target price on DoorDash from $280.00 to $275.00 in a research report on Thursday, August 6th. Piper Sandler reiterated a “neutral” rating and issued a $220.00 price target (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. Loop Capital increased their price target on DoorDash from $225.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company dropped their price target on DoorDash from $230.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, October 30th. Finally, Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.66.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash’s Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

DoorDash Profile

DoorDash, Inc operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup.

The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.