Janus Henderson Group PLC Has $1.16 Billion Stock Holdings in DoorDash, Inc. $DASH

Janus Henderson Group PLC increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 40.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,762,553 shares of the company’s stock after buying an additional 2,225,954 shares during the quarter. DoorDash accounts for approximately 0.6% of Janus Henderson Group PLC’s holdings, making the stock its 29th biggest position. Janus Henderson Group PLC owned approximately 1.78% of DoorDash worth $1,159,377,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DASH. Brighton Jones LLC grew its stake in DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of DoorDash by 21.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after purchasing an additional 303 shares during the period. Empowered Funds LLC lifted its position in shares of DoorDash by 3.6% in the first quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after purchasing an additional 285 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock worth $1,049,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in shares of DoorDash during the second quarter worth approximately $222,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,927 shares of company stock worth $13,241,532 over the last quarter. 5.83% of the stock is currently owned by corporate insiders.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving Federal Aviation Administration Part 135 air-carrier certification. The approval allows the company to conduct commercial drone deliveries in the U.S. and represents a significant regulatory and operational milestone. DoorDash launches in-house drone delivery program after FAA certification
• Positive Sentiment: The company plans to develop its own aircraft and an end-to-end aerial delivery network that will eventually operate through the DoorDash app. If scaled successfully, drones could reduce reliance on gig-economy labor for certain short- and mid-range orders, potentially improving delivery economics and margins. DoorDash is building its own drone delivery business
• Positive Sentiment: DoorDash’s internally developed drone service could expand beyond restaurant orders into retail, pharmaceuticals and other time-sensitive, higher-value deliveries. The company already works with Wing and Flytrex, so the in-house program adds another avenue for autonomous-delivery growth. DoorDash is launching a competing drone delivery service
• Neutral Sentiment: Analysts expect a decline in earnings in DoorDash’s upcoming report, with the company lacking two key indicators typically associated with an earnings beat. This could increase volatility ahead of results. Analysts Estimate DoorDash to Report a Decline in Earnings
• Negative Sentiment: The drone initiative will require substantial upfront investment in aircraft, infrastructure and regulatory compliance. Those costs could weigh on near-term free cash flow before delivery density is high enough to generate meaningful operating leverage. With DASH trading at a high earnings multiple, investors may demand clear evidence that the program can produce stronger profitability.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DASH. Truist Financial lowered their price objective on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a research report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a research note on Tuesday, May 12th. Wells Fargo & Company lowered their price target on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Finally, UBS Group upped their price target on shares of DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

DoorDash Trading Down 1.0%

Shares of NASDAQ DASH opened at $193.53 on Thursday. The business has a 50 day simple moving average of $174.13 and a 200 day simple moving average of $174.90. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The stock has a market cap of $84.32 billion, a price-to-earnings ratio of 92.16 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 issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, research analysts predict that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal 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.