Janus Henderson Group PLC Buys 2,225,954 Shares of DoorDash, Inc. $DASH

Janus Henderson Group PLC increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 40.2% in the 1st quarter, Holdings Channel reports. The firm owned 7,762,553 shares of the company’s stock after purchasing an additional 2,225,954 shares during the period. DoorDash accounts for approximately 0.6% of Janus Henderson Group PLC’s holdings, making the stock its 29th biggest position. Janus Henderson Group PLC’s holdings in DoorDash were worth $1,159,377,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors grew its holdings in DoorDash by 4.8% during the first quarter. Arkadios Wealth Advisors now owns 5,998 shares of the company’s stock valued at $901,000 after purchasing an additional 272 shares during the last quarter. Spyglass Capital Management LLC raised its position in shares of DoorDash by 10.2% in the first quarter. Spyglass Capital Management LLC now owns 298,176 shares of the company’s stock valued at $44,771,000 after purchasing an additional 27,606 shares during the period. Amundi lifted its stake in shares of DoorDash by 31.1% in the first quarter. Amundi now owns 2,315,722 shares of the company’s stock worth $347,706,000 after buying an additional 549,387 shares during the last quarter. RDST Capital LLC lifted its stake in shares of DoorDash by 176.7% in the first quarter. RDST Capital LLC now owns 369,520 shares of the company’s stock worth $55,483,000 after buying an additional 235,985 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of DoorDash by 3.0% during the 1st quarter. Empowered Funds LLC now owns 48,765 shares of the company’s stock worth $7,322,000 after buying an additional 1,403 shares during the period. Institutional investors own 90.64% of the company’s stock.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving Federal Aviation Administration Part 135 air-carrier certification. The approval allows the company to conduct commercial drone deliveries in the U.S. and represents a significant regulatory and operational milestone. DoorDash launches in-house drone delivery program after FAA certification
• Positive Sentiment: The company plans to develop its own aircraft and an end-to-end aerial delivery network that will eventually operate through the DoorDash app. If scaled successfully, drones could reduce reliance on gig-economy labor for certain short- and mid-range orders, potentially improving delivery economics and margins. DoorDash is building its own drone delivery business
• Positive Sentiment: DoorDash’s internally developed drone service could expand beyond restaurant orders into retail, pharmaceuticals and other time-sensitive, higher-value deliveries. The company already works with Wing and Flytrex, so the in-house program adds another avenue for autonomous-delivery growth. DoorDash is launching a competing drone delivery service
• Neutral Sentiment: Analysts expect a decline in earnings in DoorDash’s upcoming report, with the company lacking two key indicators typically associated with an earnings beat. This could increase volatility ahead of results. Analysts Estimate DoorDash to Report a Decline in Earnings
• Negative Sentiment: The drone initiative will require substantial upfront investment in aircraft, infrastructure and regulatory compliance. Those costs could weigh on near-term free cash flow before delivery density is high enough to generate meaningful operating leverage. With DASH trading at a high earnings multiple, investors may demand clear evidence that the program can produce stronger profitability.

DoorDash Trading Down 1.0%

Shares of DASH stock opened at $193.53 on Thursday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The firm’s fifty day simple moving average is $174.13 and its 200 day simple moving average is $174.90. The firm has a market capitalization of $84.32 billion, a P/E ratio of 92.16 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating 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 firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company earned $0.44 EPS. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.39 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. The transaction was disclosed in a legal filing 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, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. The trade was a 7.03% 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. In the last 90 days, insiders have sold 74,927 shares of company stock worth $13,241,532. Insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research analyst reports. Zacks Research lowered shares of DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Wells Fargo & Company cut their target price on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. UBS Group upped their price target on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Stifel Nicolaus lowered their price target on DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Finally, Moffett Nathanson set a $276.00 price objective on DoorDash in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $252.89.

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.