DoorDash, Inc. $DASH is Nellore Capital Management LLC’s 8th Largest Position

Nellore Capital Management LLC trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,435 shares of the company’s stock after selling 14,568 shares during the quarter. DoorDash makes up approximately 4.1% of Nellore Capital Management LLC’s portfolio, making the stock its 8th largest position. Nellore Capital Management LLC’s holdings in DoorDash were worth $37,171,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in shares of DoorDash in the 4th quarter valued at approximately $26,000. Swiss RE Ltd. purchased a new position in DoorDash during the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. acquired a new stake in DoorDash during the 4th quarter valued at $32,000. Sunbelt Securities Inc. lifted its holdings 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 in the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of DoorDash during the third quarter valued at $36,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Up 0.3%

Shares of DoorDash stock opened at $226.24 on Thursday. The firm has a market cap of $98.03 billion, a price-to-earnings ratio of 118.45 and a beta of 1.79. 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 52-week low of $143.30 and a 52-week high of $285.50. The stock has a 50-day simple moving average of $202.34 and a 200-day simple moving average of $177.88.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS. On average, equities research analysts expect that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DASH shares. Piper Sandler reissued a “neutral” rating and set a $220.00 price target (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. DA Davidson decreased their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Truist Financial boosted their price objective on shares of DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Guggenheim reiterated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. Finally, Jefferies Financial Group increased their target price on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $254.97.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt initiated coverage with a “Buy”/“Strong Buy” rating and a $270 price target, implying roughly 19% upside from the referenced price. The firm said easing headwinds create a more attractive buying opportunity, giving DASH a new bullish Wall Street catalyst. Rosenblatt initiates coverage of DoorDash with buy recommendation
• Positive Sentiment: DoorDash is adding major retail partners including Gap and Kohl’s, expanding delivery availability beyond restaurants and potentially increasing order frequency, gross bookings and consumer reach. Gap and Kohl’s add DoorDash delivery option
• Positive Sentiment: DoorDash partnered with Circana to independently validate advertising results for Sponsored Products and Sponsored Brands. Demonstrating incremental sales and new-customer demand could improve advertiser confidence, support larger marketing budgets and strengthen DoorDash’s higher-margin retail-media business. Circana and DoorDash partner to validate incremental sales
• Neutral Sentiment: DoorDash published rankings of popular burger and hot-dog restaurants. The publicity reinforces consumer engagement and the breadth of DoorDash’s data, but is unlikely to materially affect earnings. Top-rated burger and hot-dog spots according to DoorDash data
• Negative Sentiment: Reports involving a DoorDash driver delivering an order naked, an armed confrontation over a missing drink, and a fatal vehicle accident create isolated reputational and safety concerns. DoorDash’s permanent ban in the first case limits direct operational exposure, but these incidents could renew scrutiny of driver screening, safety procedures and potential liability. DoorDash bans driver after naked delivery Armed confrontation over missing DoorDash drink

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 19,505 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly owned 232,938 shares in the company, valued at approximately $51,390,781.56. This represents a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock in a transaction on Monday, August 24th. The stock was sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the transaction, 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 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. In the last 90 days, insiders have sold 337,674 shares of company stock worth $72,974,540. Company insiders own 44.90% of the company’s stock.

DoorDash 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.