Commerzbank Aktiengesellschaft FI Makes New $443,000 Investment in DoorDash, Inc. $DASH

Commerzbank Aktiengesellschaft FI bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the second quarter, HoldingsChannel reports. The institutional investor bought 2,402 shares of the company’s stock, valued at approximately $443,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DASH. Brighton Jones LLC lifted its stake in DoorDash by 24.0% in 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 during the last quarter. Integrated Wealth Concepts LLC increased its position in DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after buying an additional 303 shares during the last quarter. Empowered Funds LLC increased its position in 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 buying an additional 285 shares during the last quarter. Sivia Capital Partners LLC raised its stake 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 valued at $1,049,000 after buying an additional 2,049 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of DoorDash in the second quarter valued at $222,000. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Up 1.8%

Shares of DASH opened at $220.22 on Thursday. The business’s 50-day moving average price is $189.94 and its 200-day moving average price is $174.97. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The stock has a market cap of $95.42 billion, a PE ratio of 115.30 and a beta of 1.78. 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 (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, equities analysts forecast that DoorDash, Inc. will post 2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction that occurred 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 completion of the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 5.28% of the company’s stock.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Zacks upgrade: Zacks Research raised DoorDash from “strong sell” to “hold,” reducing a notable source of negative sentiment around the stock. Zacks.com
• Positive Sentiment: Broader retail strategy: DoorDash is promoting back-to-school shopping through partnerships with Barnes & Noble, Carter’s and Kohl’s, supporting its effort to increase order frequency and diversify revenue beyond meals. DoorDash Makes Back-to-School Shopping Easier
• Positive Sentiment: New product category: DoorDash has begun selling video games, another move to broaden its marketplace and capture additional consumer spending, although the offering reportedly does not involve standard doorstep delivery. DoorDash Starts Selling Video Games
• Neutral Sentiment: Autonomous delivery developments: DoorDash and Grubhub are reportedly taking delivery robots that Uber did not want. The development could improve delivery efficiency over time, but the financial benefits and implementation costs are not yet clear. Grubhub and DoorDash Take Delivery Robots
• Neutral Sentiment: Market context: A report on recent large stock moves noted that DoorDash ticked higher while Serve Robotics fell after cutting guidance, suggesting investor focus on execution and the economics of delivery automation. Serve Robotics and DoorDash Market Moves
• Negative Sentiment: Legal overhang: Separate lawsuits involving DoorDash drivers and a fatal incident connected to a DoorDash pickup could create reputational or liability concerns, though the reports do not indicate a material financial impact on the company. DoorDash Drivers Sue Police Chief Lawsuit Following Fatal DoorDash Pickup

Analysts Set New Price Targets

Several research analysts have recently weighed in on DASH shares. Jefferies Financial Group increased their price target on DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. BTIG Research restated a “buy” rating and issued a $225.00 price objective on shares of DoorDash in a research note on Thursday, August 6th. Piper Sandler reiterated a “neutral” rating and set a $220.00 target price (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. Barclays lifted their target price on shares of DoorDash from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Finally, KeyCorp cut their price objective 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. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.09.

DoorDash 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.