Wealthfront Advisers LLC Sells 6,605 Shares of DoorDash, Inc. $DASH

Wealthfront Advisers LLC lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,132 shares of the company’s stock after selling 6,605 shares during the quarter. Wealthfront Advisers LLC’s holdings in DoorDash were worth $10,530,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of DoorDash during the 4th quarter valued at about $1,093,650,000. Wellington Management Group LLP grew its stake in shares of DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock valued at $1,241,494,000 after buying an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after acquiring an additional 3,447,754 shares during the last quarter. Coatue Management LLC grew its holdings in shares of DoorDash by 77.8% in the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after purchasing an additional 1,910,488 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of DoorDash in the fourth quarter worth $372,128,000. 90.64% of the stock is currently owned by institutional investors.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

Analysts Set New Price Targets

Several equities research analysts have weighed in on DASH shares. Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a report on Tuesday, May 12th. Wells Fargo & Company reduced their target price on DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. KeyCorp decreased 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. Finally, Wedbush began coverage on DoorDash in a research note on Thursday. They issued a “neutral” rating and a $205.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

DoorDash Price Performance

Shares of DASH opened at $184.14 on Friday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm’s 50-day simple moving average is $169.76 and its two-hundred day simple moving average is $177.68. The stock has a market cap of $80.23 billion, a PE ratio of 87.69 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. Analysts anticipate that DoorDash, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 19,095 shares of DoorDash stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the transaction, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. 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 84,927 shares of company stock worth $15,124,932 over the last quarter. Corporate insiders own 5.83% of the company’s stock.

About DoorDash

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.