DoorDash, Inc. $DASH Shares Acquired by Hobart Private Capital LLC

Hobart Private Capital LLC lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 209.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,701 shares of the company’s stock after acquiring an additional 4,537 shares during the period. Hobart Private Capital LLC’s holdings in DoorDash were worth $1,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of DoorDash by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after acquiring an additional 1,522,823 shares in the last quarter. State Street Corp raised its position in shares of DoorDash by 6.3% during the 3rd quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after acquiring an additional 909,125 shares in the last quarter. Capital World Investors raised its position in shares of DoorDash by 0.9% during the 3rd quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock worth $2,955,424,000 after acquiring an additional 95,278 shares in the last quarter. Invesco Ltd. increased its position in DoorDash by 18.2% during the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after buying an additional 980,148 shares during the period. Finally, Northern Trust Corp increased its position in DoorDash by 3.0% during the third quarter. Northern Trust Corp now owns 3,348,168 shares of the company’s stock worth $910,668,000 after buying an additional 96,012 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Up 2.5%

NASDAQ:DASH opened at $183.89 on Friday. The firm has a market cap of $79.89 billion, a P/E ratio of 86.74 and a beta of 1.93. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $165.98 and its 200-day simple moving average is $206.14. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. Equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In other news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $176.61, for a total value of $220,762.50. Following the transaction, the director owned 31,002 shares of the company’s stock, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total value of $3,068,850.00. Following the completion of the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at approximately $178,838,256.70. The trade was a 1.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 94,406 shares of company stock valued at $17,825,074. Company insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays cut their price target on DoorDash from $238.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Mizuho cut their price target on DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. UBS Group cut their price target on DoorDash from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. Wedbush lifted their price target on DoorDash from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Finally, Benchmark lifted their price target on DoorDash from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.32.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: New monetization product: DoorDash rolled out new ad tools that could help restaurants win more customers and increase ad revenue — a potential long-term boost to margins and ARPU. DoorDash’s new ad tools could change how restaurants compete: Fox Business
• Positive Sentiment: Market reaction: Despite heavy media coverage of the White House delivery stunt, investors have largely shrugged it off so far, suggesting the episode is being treated as a short-term PR event rather than a material hit to fundamentals. DoorDash Defends White House Delivery: Yahoo
• Neutral Sentiment: High-profile media coverage: Multiple outlets reported former President Trump calling the stunt “tacky” and “a little embarrassing,” keeping the story in headlines but not adding new operational or financial information. Trump Calls His Own DoorDash Stunt ‘A Little Embarrassing’: Yahoo
• Neutral Sentiment: Unverified claims: Coverage includes unsubstantiated assertions that participants were “actors,” which prolongs chatter but so far lacks evidence that would meaningfully affect business metrics. White House DoorDash delivery prompts unsubstantiated ‘actor’ claims: Yahoo
• Negative Sentiment: Reputational/PR risk: Social-media backlash and heated exchanges by DoorDash PR staff have generated negative press and could raise short-term brand risk or partner concerns if amplified. DoorDash PR Head Crashes Out Online Over Backlash: HuffPost
• Negative Sentiment: Actor allegation scrutiny: Reporting that a participant may have been a paid actor keeps the story alive and could invite further media/legal scrutiny if substantiated. Unpacking claims ‘DoorDash grandma’ was paid actor: MSN

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.