Deltec Asset Management LLC Sells 72,193 Shares of DoorDash, Inc. $DASH

Deltec Asset Management LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 43.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,362 shares of the company’s stock after selling 72,193 shares during the quarter. DoorDash makes up about 2.6% of Deltec Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Deltec Asset Management LLC’s holdings in DoorDash were worth $16,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. City State Bank increased its stake in shares of DoorDash by 56.0% in the third quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after buying an additional 56 shares in the last quarter. Washington Trust Advisors Inc. lifted its position in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after buying an additional 64 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in DoorDash by 2.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after buying an additional 67 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of DoorDash by 3.3% during the first quarter. V Square Quantitative Management LLC now owns 2,327 shares of the company’s stock valued at $349,000 after purchasing an additional 74 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in DoorDash by 8.4% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,339 shares of the company’s stock worth $246,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is reportedly in exclusive or advanced talks to acquire Instacart, with a deal potentially being completed as soon as this week. Combining the two platforms could expand DoorDash’s grocery, retail and convenience-delivery scale, create cost synergies and improve its ability to compete with Uber Eats and Amazon. DoorDash Is in Advanced Talks to Acquire Delivery Rival Instacart
• Positive Sentiment: Instacart’s reported talks with Uber are no longer active, potentially leaving DoorDash as the leading buyer and reducing the likelihood of a competing bid. DoorDash in talks to buy delivery rival Instacart in $17B deal
• Neutral Sentiment: The reports remain unconfirmed, and the $17 billion figure and final transaction structure could change. Instacart’s stock jumped on the reports, indicating that markets view a deal as increasingly plausible, but DoorDash shareholders must wait for definitive terms. DoorDash in exclusive talks to acquire Instacart
• Negative Sentiment: The proposed purchase would be substantial relative to DoorDash’s roughly $73 billion market value. Investors may be concerned about debt, stock issuance, a potentially high valuation and the difficulty of integrating two large delivery businesses. Those risks appear to be outweighing the deal’s strategic benefits in the current trading reaction. DoorDash Circles Deal to Buy Instacart

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Argus increased their price objective on DoorDash from $190.00 to $270.00 in a research report on Thursday, August 27th. Moffett Nathanson decreased their price target on DoorDash from $280.00 to $278.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Wells Fargo & Company lifted their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a “cautious” rating in a research report on Monday, October 5th. Finally, Scotiabank assumed coverage on shares of DoorDash in a research note on Wednesday, September 9th. They set a “sector outperform” rating and a $275.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.95.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $168.44 on Tuesday. The firm has a market cap of $72.99 billion, a PE ratio of 88.19 and a beta of 1.90. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $269.00. The company has a fifty day moving average price of $201.31 and a 200 day moving average price of $184.05.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company’s revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Research analysts predict that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.

Insider Activity

In other DoorDash news, COO Keith Yandell sold 2,183 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $183.69, for a total value of $400,995.27. Following the completion of the sale, the chief operating officer owned 118,505 shares in the company, valued at $21,768,183.45. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of DoorDash stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $186.19, for a total value of $4,305,643.75. Following the transaction, the director owned 10,361 shares of the company’s stock, valued at $1,929,114.59. The trade was a 69.06% 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 three months, insiders sold 393,998 shares of company stock valued at $85,861,330. 44.90% of the stock is owned by corporate insiders.

DoorDash Profile

DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.

The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.