NEOS Investment Management LLC Has $58.46 Million Stake in DoorDash, Inc. $DASH

NEOS Investment Management LLC increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 16.0% during the second quarter, HoldingsChannel reports. The fund owned 316,828 shares of the company’s stock after buying an additional 43,668 shares during the period. NEOS Investment Management LLC’s holdings in DoorDash were worth $58,464,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in DoorDash during the 4th quarter worth about $26,000. Sunbelt Securities Inc. raised its stake in shares of DoorDash by 124.1% in the 3rd 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. bought a new stake in shares of DoorDash in the fourth quarter valued at about $28,000. Morse Asset Management Inc bought a new stake in shares of DoorDash in the third quarter valued at about $36,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of DoorDash during the fourth quarter worth about $32,000. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. KeyCorp decreased their price objective on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Sanford C. Bernstein restated an “outperform” rating on shares of DoorDash in a research note on Thursday. Cantor Fitzgerald upped their price target on DoorDash from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Rosenblatt Securities started coverage on shares of DoorDash in a research note on Tuesday. They set a “buy” rating and a $270.00 price target for the company. Finally, Bank of America reiterated a “buy” rating on shares of DoorDash in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.97.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $222.00 on Friday. The stock has a market capitalization of $96.19 billion, a price-to-earnings ratio of 116.23 and a beta of 1.79. The business has a 50-day moving average of $203.24 and a 200-day moving average of $178.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue was up 35.6% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.49 earnings per share for the current fiscal year.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Strong Buy rating, adding a favorable analyst view to DoorDash’s outlook and potentially supporting the stock’s valuation. Rosenblatt initiates coverage of DoorDash
• Positive Sentiment: DoorDash expanded its merchant and advertising ecosystem. Gap and Kohl’s are among retailers adding DoorDash delivery, while a partnership with Circana will provide independent validation of advertising-driven sales. Better measurement could make DoorDash’s retail-media business more attractive to consumer packaged goods advertisers. Retailers adding DoorDash delivery Circana and DoorDash advertising partnership
• Positive Sentiment: A new Live Nation partnership is designed to create food and fan-experience opportunities around live events, potentially adding engagement and order volume beyond DoorDash’s traditional restaurant business. DoorDash and Live Nation partnership
• Neutral Sentiment: Sands Capital Select Growth Fund sold its DoorDash position during the second quarter. The transaction may raise questions about institutional conviction, although it does not necessarily reflect DoorDash’s current operating outlook. Sands Capital sold DoorDash shares
• Negative Sentiment: Walmart is entering restaurant delivery through a new Dunkin’ partnership. The move could intensify competition with DoorDash and Uber Eats, particularly if Walmart uses its scale, customer base or delivery network to gain share. Walmart expands restaurant delivery
• Negative Sentiment: Multiple reports of problematic driver behavior and disputes over driver pay create potential reputational, customer-retention and regulatory risks, although the incidents appear isolated and DoorDash has removed or banned drivers involved in some cases. DoorDash delivery complaint DoorDash driver pay dispute

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 55,289 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the transaction, the chief operating officer owned 930,211 shares of the company’s stock, valued at $215,585,701.36. The trade was a 5.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tony Xu sold 29,567 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $230.00, for a total value of $6,800,410.00. Following the sale, the chief executive officer owned 1,500 shares in the company, valued at approximately $345,000. This represents a 95.17% decrease in their position. 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 353,718 shares of company stock valued at $76,641,397 in the last ninety days. 44.90% of the stock is owned by company insiders.

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.