Waverly Advisors LLC Makes New $35.40 Million Investment in DoorDash, Inc. $DASH

Waverly Advisors LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to its most recent filing with the SEC. The firm purchased 191,820 shares of the company’s stock, valued at approximately $35,397,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Empirical Finance LLC bought a new stake in DoorDash during the second quarter valued at about $2,644,000. Nykredit A S bought a new position in DoorDash in the second quarter worth about $121,724,000. Parkside Financial Bank & Trust lifted its position in shares of DoorDash by 978.9% during the second quarter. Parkside Financial Bank & Trust now owns 4,920 shares of the company’s stock valued at $908,000 after buying an additional 4,464 shares during the last quarter. Range Advisory LLC lifted its position in shares of DoorDash by 27.0% during the second quarter. Range Advisory LLC now owns 2,166 shares of the company’s stock valued at $400,000 after buying an additional 461 shares during the last quarter. Finally, Brown Lisle Cummings Inc. boosted its holdings in shares of DoorDash by 8,533.3% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 518 shares of the company’s stock valued at $96,000 after buying an additional 512 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: SKIMS partnership expands on-demand commerce. DoorDash will help SKIMS customers obtain last-minute apparel and wardrobe items, broadening the platform beyond restaurant delivery and potentially creating additional order volume. SKIMS will use DoorDash to help with last-minute wardrobe needs SKIMS and DoorDash: Solutions For Every Body, Delivered On-Demand
• Positive Sentiment: Football promotion could boost weekend orders and engagement. DoorDash is offering rewards, sweepstakes and prizes tied to Saturday football orders, including cash, a vehicle and other benefits. The campaign may increase order frequency and customer engagement, although its direct financial contribution is unclear. How DoorDash Is Rewarding Football Fans DoorDash Saturday football promotion
• Positive Sentiment: DoorDash Labs received innovation recognition. Being named Innovation Team of the Year provides favorable publicity for the company’s technology and delivery-automation efforts, though the award itself does not immediately change earnings. DoorDash Labs is the Innovation Team of the Year
• Positive Sentiment: Growth outlook remains bullish in analyst commentary. A Seeking Alpha analysis cited 36% year-over-year quarterly revenue growth, increasing DashPass subscriptions, higher marketplace volume and adjusted EBITDA growth as reasons for continued optimism. This is an analyst opinion rather than new company guidance. DoorDash growth outlook
• Neutral Sentiment: A customer-service anecdote involving a DoorDash delivery is receiving attention but has no clear material impact on revenue, costs or investor sentiment. DoorDash delivery anecdote
• Negative Sentiment: Director stock sales may pressure the shares. Director Andy Fang sold 15,000 shares for approximately $3.4 million, while another report highlighted roughly $7.0 million in director selling. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary signal, but insider selling can still weigh on sentiment. DoorDash director stock sale

DoorDash Stock Performance

NASDAQ:DASH traded down $11.29 during midday trading on Tuesday, hitting $200.44. The company’s stock had a trading volume of 4,538,929 shares, compared to its average volume of 4,731,197. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $86.85 billion, a P/E ratio of 104.94 and a beta of 1.79. The firm’s 50 day moving average is $204.35 and its 200-day moving average is $179.02.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS 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 net margin of 5.29% and a return on equity of 8.48%. The firm’s revenue was up 35.6% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.49 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 55,289 shares of the firm’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 value of $12,813,778.64. Following the sale, the chief operating officer directly owned 930,211 shares of the company’s stock, valued at approximately $215,585,701.36. This trade represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total transaction of $3,424,650.00. 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 90 days, insiders sold 399,553 shares of company stock worth $87,034,140. 44.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $220.00 target price (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Wedbush increased their price objective on DoorDash from $205.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Barclays lowered DoorDash from an “equal weight” rating to a “strong sell” rating in a research report on Monday, August 24th. Finally, Guggenheim reissued a “buy” rating and issued a $255.00 price target on shares of DoorDash in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.97.

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.