DoorDash, Inc. $DASH is Bienville Capital Management LLC’s 4th Largest Position

Bienville Capital Management LLC grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 17.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 233,312 shares of the company’s stock after buying an additional 34,470 shares during the quarter. DoorDash accounts for 5.7% of Bienville Capital Management LLC’s holdings, making the stock its 4th biggest position. Bienville Capital Management LLC’s holdings in DoorDash were worth $43,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC increased its position in shares of DoorDash by 707.8% during the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after purchasing an additional 221,985 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of DoorDash by 9.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock worth $35,548,000 after buying an additional 13,121 shares during the last quarter. Allstate Corp boosted its holdings in shares of DoorDash by 116.7% in the 4th quarter. Allstate Corp now owns 29,227 shares of the company’s stock worth $6,619,000 after buying an additional 15,741 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after buying an additional 1,807 shares during the last quarter. Finally, JCP Investment Management LLC bought a new position in DoorDash during the first quarter valued at about $991,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Retail expansion: DoorDash is partnering with fashion brands including SKIMS and Windsor to deliver last-minute clothing and wardrobe items. The deals support DoorDash’s strategy of expanding beyond restaurant delivery, potentially increasing order frequency and broadening its addressable market. Windsor DoorDash partnership SKIMS DoorDash partnership
• Positive Sentiment: Technology and marketing visibility: DoorDash Labs was named Innovation Team of the Year, while a new Jameis Winston advertising campaign and football-season rewards promotion could support brand awareness and customer engagement. These developments are strategically favorable but have limited immediate earnings impact. DoorDash Labs award Jameis Winston DoorDash advertisement
• Neutral Sentiment: Human-interest coverage involving DoorDash orders, tipping and recipes is unlikely to materially affect the company’s financial outlook. Chicken recipes and DoorDash
• Negative Sentiment: Director Andy Fang sold 15,000 DASH shares for approximately $3.42 million at an average price of $228.31. Because the sale was executed under a pre-arranged Rule 10b5-1 plan, it is a weaker bearish signal, but it may still weigh on sentiment given the stock’s premium valuation. DoorDash director insider sale

Wall Street Analysts Forecast Growth

DASH has been the topic of several research reports. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a research report on Monday, August 24th. Guggenheim reissued a “buy” rating and set a $255.00 target price on shares of DoorDash in a research report on Tuesday, June 23rd. Needham & Company LLC restated a “buy” rating and set a $265.00 price target on shares of DoorDash in a research note on Thursday, August 6th. Truist Financial lifted their price target on shares of DoorDash from $330.00 to $336.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group upped their price objective on DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $257.47.

DoorDash Price Performance

NASDAQ DASH opened at $197.24 on Thursday. The company has a market cap of $85.46 billion, a PE ratio of 103.27 and a beta of 1.79. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm’s 50-day simple moving average is $204.83 and its two-hundred day simple moving average is $179.36.

DoorDash (NASDAQ:DASH) last posted its earnings results 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 business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.DoorDash’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. Research analysts predict that DoorDash, Inc. will post 2.49 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 19,505 shares of DoorDash stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10. Following the completion of the transaction, the chief financial officer directly owned 232,938 shares in the company, valued at approximately $51,390,781.56. The trade was a 7.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Tony Xu sold 29,567 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the sale, the chief executive officer directly owned 1,500 shares in the company, valued at $345,000. The trade was a 95.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 399,553 shares of company stock valued at $87,034,140 in the last quarter. Corporate insiders own 44.90% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with merchants and independent delivery workers. Its marketplace enables customers to order meals from restaurants as well as groceries, convenience items, alcohol where permitted, and products from other retail businesses through its websites and mobile applications.

The company also provides services designed to support merchants, including delivery logistics, online ordering, marketing, payment processing, and customer-engagement tools.