OP Asset Management Ltd Makes New Investment in DoorDash, Inc. $DASH

OP Asset Management Ltd acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,991 shares of the company’s stock, valued at approximately $5,854,000.

A number of other hedge funds have also recently bought and sold shares of DASH. MV Capital Management Inc. acquired a new position in DoorDash in the 4th quarter valued at $26,000. Eastern Bank boosted its holdings in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the period. Swiss RE Ltd. acquired a new position in DoorDash in the fourth quarter valued at $28,000. Finally, ST Germain D J Co. Inc. acquired a new position in DoorDash in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of several recent analyst reports. Truist Financial reduced their target price on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. DA Davidson dropped their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus cut their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a research report on Monday. Finally, Argus set a $190.00 price target on shares of DoorDash in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $256.11.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 21,433 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director directly owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. This represents a 52.65% decrease in their position. The sale was disclosed in a document filed 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, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. 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 58,558 shares of company stock valued at $9,324,940 in the last quarter. Company insiders own 5.83% of the company’s stock.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched a new conversational shopping assistant for grocery orders, a sign it is expanding its AI-enabled shopping tools and improving the platform’s utility for consumers. DoorDash launches conversational shopping assistant
• Positive Sentiment: Precisely said it is launching a new commercial property imagery product enabled by DoorDash Tasks, highlighting another use case for DoorDash’s logistics and task-based platform beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Positive Sentiment: DoorDash was featured at Cannes Lions in a high-profile UTA ads executive event, which may support brand visibility and advertising relationships. Inside the UTA and DoorDash Ads Executive Soirée at Cannes Lions
• Neutral Sentiment: DoorDash gift cards were highlighted in a Prime Day deals roundup, which may modestly support consumer demand but is not a major company-specific catalyst. I’m heavily considering buying these gift cards on sale for Prime Day
• Negative Sentiment: Multiple news reports described violent or disruptive incidents tied to DoorDash deliveries, including a shooting during a delivery, a carjacking, and a delivery-related dispute. These stories can pressure investor sentiment by raising concerns about driver safety and platform risk. Teens told St. Louis police someone shot at them during a DoorDash delivery
• Negative Sentiment: A separate article said a DoorDash order was used in a scam that drained a customer’s bank account, adding to reputational concerns around the service. The DoorDash Order Was A Setup. The “Support” Call Drained Her Account

DoorDash Trading Down 0.6%

NASDAQ DASH opened at $176.91 on Friday. The firm has a market capitalization of $77.08 billion, a price-to-earnings ratio of 84.24 and a beta of 1.83. 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, Inc. has a one year low of $143.30 and a one year high of $285.50. The company’s 50 day moving average price is $165.43 and its 200 day moving average price is $181.84.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash, Inc. will post 2.41 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.