Franklin Street Advisors Inc. NC Reduces Position in DoorDash, Inc. $DASH

Franklin Street Advisors Inc. NC trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,416 shares of the company’s stock after selling 22,160 shares during the quarter. DoorDash makes up 1.3% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 29th largest position. Franklin Street Advisors Inc. NC’s holdings in DoorDash were worth $23,143,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DASH. Vanguard Group Inc. boosted its position in shares of DoorDash by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after acquiring an additional 713,571 shares in the last quarter. SC US Ttgp LTD. raised its position in shares of DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock worth $7,176,387,000 after acquiring an additional 506,358 shares in the last quarter. Morgan Stanley raised its position in shares of DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock worth $3,971,741,000 after acquiring an additional 391,596 shares in the last quarter. State Street Corp lifted its stake in DoorDash by 3.0% during the fourth quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after purchasing an additional 464,448 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 19,095 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares in the company, valued at $47,469,381.72. This represents 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, Director Stanley Tang sold 67,693 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $200.63, for a total transaction of $13,581,246.59. Following the sale, the director owned 40,218 shares of the company’s stock, valued at approximately $8,068,937.34. This represents a 62.73% 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. Over the last ninety days, insiders sold 142,620 shares of company stock worth $26,822,778. Corporate insiders own 5.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. KeyCorp lowered their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Benchmark dropped their target price on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Susquehanna lifted their price target on shares of DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a research note on Friday. Finally, Cantor Fitzgerald lifted their price target on shares of DoorDash from $230.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Twenty-three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $253.50.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash’s second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, memberships and the Deliveroo acquisition supported the top-line beat. DoorDash Q2 Earnings Miss on Higher R&D Costs, Revenue Beat
• Positive Sentiment: Management issued stronger-than-expected third-quarter guidance, indicating that demand for food, grocery and convenience delivery remains resilient. The company also said improving growth and unit economics are helping fund investments in DashPass, merchant services, artificial intelligence and autonomous delivery. DoorDash Issues Strong Guidance as Delivery Demand Keeps Rising
• Positive Sentiment: DoorDash received FAA approval to operate commercial air-carrier services in Charlotte, clearing a regulatory hurdle for drone deliveries. The initiative could eventually improve delivery speed and economics, although its financial contribution is likely longer term. DoorDash Cleared for Takeoff with FAA Air Carrier Approval
• Positive Sentiment: Several analysts raised their price targets: Cantor Fitzgerald increased its target to $260 and maintained an overweight rating, while Needham reiterated a buy rating with a $265 target. Barclays also lifted its target to $230, though it retained an equal-weight rating. DoorDash Given New Price Target at Barclays
• Neutral Sentiment: DoorDash is positioning artificial intelligence as a growth and efficiency driver, but management said AI-generated traffic is still limited. Autonomous delivery robot deployment also faces practical challenges involving charging, loading and complex pickups. DoorDash Faces Challenges Scaling Its Dot Delivery Robot
• Negative Sentiment: Adjusted earnings of $0.46 per share fell short of expectations and declined from $0.65 a year earlier. Higher research-and-development spending is pressuring near-term profitability as DoorDash invests in technology and expansion. DoorDash Q2 Earnings Miss Estimates
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. While scheduled insider sales do not necessarily signal deteriorating fundamentals, the transaction reduced his position by roughly 63%. Stanley Tang Sells DoorDash Shares

DoorDash Stock Performance

DASH opened at $216.26 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The business’s 50 day moving average is $180.65 and its two-hundred day moving average is $174.56. The firm has a market cap of $94.23 billion, a price-to-earnings ratio of 113.23 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. DoorDash’s revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. On average, research analysts predict that DoorDash, Inc. will post 2.5 EPS for the current year.

DoorDash Company 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.