DoorDash, Inc. $DASH Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 26.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 728,403 shares of the company’s stock after selling 264,453 shares during the period. Pictet Asset Management Holding SA owned 0.17% of DoorDash worth $133,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DASH. Godsey & Gibb Inc. raised its position in shares of DoorDash by 1,510,137.1% in the third quarter. Godsey & Gibb Inc. now owns 528,583 shares of the company’s stock valued at $97,021,000 after purchasing an additional 528,548 shares during the period. JCP Investment Management LLC acquired a new stake in shares of DoorDash during the 1st quarter worth about $991,000. Plato Investment Management Ltd bought a new stake in shares of DoorDash during the 2nd quarter worth about $1,024,000. Quantinno Capital Management LP boosted its holdings in shares of DoorDash by 4.9% during the 1st quarter. Quantinno Capital Management LP now owns 655,095 shares of the company’s stock worth $98,363,000 after buying an additional 30,881 shares during the period. Finally, Monetta Financial Services Inc. bought a new stake in shares of DoorDash during the 2nd quarter worth about $1,015,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

DASH opened at $179.67 on Monday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $239.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $77.85 billion, a P/E ratio of 74.24 and a beta of 1.98. The stock has a fifty day moving average of $193.38 and a 200-day moving average of $182.51.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. DoorDash’s quarterly revenue was up 34.0% on a year-over-year basis. On average, equities analysts expect that DoorDash, Inc. will post 2.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America reiterated a “buy” rating on shares of DoorDash in a research note on Friday, October 30th. Jefferies Financial Group raised their price objective on shares of DoorDash from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Susquehanna raised their price objective on shares of DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Moffett Nathanson reduced their price objective on DoorDash from $280.00 to $278.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on DoorDash from $255.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.66.

DoorDash News Roundup

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

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 29,567 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $230.00, for a total value of $6,800,410.00. Following the completion of the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at $345,000. The trade was a 95.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 72,367 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the transaction, the director owned 10,361 shares in the company, valued at approximately $2,332,882.76. The trade was a 87.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 349,430 shares of company stock valued at $76,644,002 in the last quarter. Company insiders own 44.90% of the company’s stock.

About DoorDash

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.