DoorDash, Inc. $DASH Position Increased by WINTON GROUP Ltd

WINTON GROUP Ltd grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 5,773.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 396,961 shares of the company’s stock after acquiring an additional 390,203 shares during the quarter. DoorDash comprises 2.3% of WINTON GROUP Ltd’s investment portfolio, making the stock its 3rd largest position. WINTON GROUP Ltd’s holdings in DoorDash were worth $73,251,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Intech Investment Management LLC grew its position in DoorDash by 707.8% in the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after acquiring an additional 221,985 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in DoorDash by 9.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock valued at $35,548,000 after acquiring an additional 13,121 shares during the last quarter. Allstate Corp raised its position in DoorDash by 116.7% during the fourth quarter. Allstate Corp now owns 29,227 shares of the company’s stock valued at $6,619,000 after purchasing an additional 15,741 shares in the last quarter. Brighton Jones LLC raised its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Finally, JCP Investment Management LLC bought a new stake in DoorDash during the first quarter worth about $991,000. 90.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DASH has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. KeyCorp dropped their target price on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. BTIG Research restated a “buy” rating and issued a $225.00 target price on shares of DoorDash in a research report on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of DoorDash in a research note on Thursday, August 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $220.00 price target (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $257.47.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Retail expansion: DoorDash is partnering with fashion brands including SKIMS and Windsor to deliver last-minute clothing and wardrobe items. The deals support DoorDash’s strategy of expanding beyond restaurant delivery, potentially increasing order frequency and broadening its addressable market. Windsor DoorDash partnership SKIMS DoorDash partnership
• Positive Sentiment: Technology and marketing visibility: DoorDash Labs was named Innovation Team of the Year, while a new Jameis Winston advertising campaign and football-season rewards promotion could support brand awareness and customer engagement. These developments are strategically favorable but have limited immediate earnings impact. DoorDash Labs award Jameis Winston DoorDash advertisement
• Neutral Sentiment: Human-interest coverage involving DoorDash orders, tipping and recipes is unlikely to materially affect the company’s financial outlook. Chicken recipes and DoorDash
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million at an average price of $228.31. Because the sale was executed under a pre-arranged Rule 10b5-1 plan, it is a weaker bearish signal, but it may still weigh on sentiment given the stock’s premium valuation. DoorDash director insider sale

Insider Activity

In other news, CEO Tony Xu sold 29,567 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the completion of the sale, the chief executive officer directly owned 1,500 shares in the company, valued at approximately $345,000. This represents a 95.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,505 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $220.62, for a total value 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 $51,390,781.56. The trade was a 7.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 399,553 shares of company stock valued at $87,034,140. 44.90% of the stock is currently owned by insiders.

DoorDash Stock Performance

NASDAQ:DASH opened at $197.24 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm has a market cap of $85.46 billion, a PE ratio of 103.27 and a beta of 1.79. The business has a 50 day moving average price of $204.83 and a 200-day moving average price of $179.36.

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

About DoorDash

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.