Amova Asset Management Americas Inc. Boosts Stake in DoorDash, Inc. $DASH

Amova Asset Management Americas Inc. grew its stake in DoorDash, Inc. (NASDAQ:DASH) by 28.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 236,324 shares of the company’s stock after buying an additional 52,366 shares during the period. Amova Asset Management Americas Inc.’s holdings in DoorDash were worth $53,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keel Point LLC increased its stake in shares of DoorDash by 4.3% in the third quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after acquiring an additional 58 shares during the period. Petra Financial Advisors Inc. increased its stake in shares of DoorDash by 2.2% in the third quarter. Petra Financial Advisors Inc. now owns 2,764 shares of the company’s stock worth $752,000 after acquiring an additional 59 shares during the period. CYBER HORNET ETFs LLC increased its stake in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after acquiring an additional 60 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in shares of DoorDash by 8.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 843 shares of the company’s stock worth $229,000 after acquiring an additional 63 shares during the period. Finally, Vise Technologies Inc. increased its stake in shares of DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: T-Mobile is offering free DoorDash DashPass again, which could support subscriber growth and keep DoorDash top-of-mind for consumers looking for delivery discounts. T-Mobile Just Gave You Free DoorDash DashPass Again
• Positive Sentiment: Recent director stock purchases can be seen as a vote of confidence from insiders, which often supports investor sentiment. SEC filing for Milan Kovac transaction
• Positive Sentiment: One article argues DoorDash could become a go-to late-night platform for the entertainment industry, suggesting an expanded use case beyond food delivery. DoorDash May Become the Entertainment Industry’s Most Reliable Late-Night Resource
• Neutral Sentiment: Options activity and short-interest headlines suggest traders are positioning around DASH, but the short-interest data shown is essentially zero and does not provide a clear fundamental signal. Do Options Traders Know Something About DoorDash Stock We Don’t?
• Neutral Sentiment: Media stories about customer disputes and unusual orders appear largely anecdotal and are unlikely to materially affect DoorDash’s fundamentals. Walmart teams up with beloved fast-food chain to take on UberEats and DoorDash
• Negative Sentiment: Walmart is expanding services that compete with DoorDash and Uber Eats, adding another well-known player to the delivery battle and increasing competitive pressure. Walmart adds new service to compete with DoorDash, UberEats
• Negative Sentiment: DoorDash and Instacart are facing an FTC fight over consumer fees, which raises the risk of stricter oversight or pressure on pricing practices. DoorDash, Instacart face critical FTC fight over consumer fees

DoorDash Stock Up 2.1%

DASH stock opened at $155.67 on Wednesday. The firm has a market cap of $67.83 billion, a PE ratio of 74.13 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s fifty day moving average is $162.59 and its 200 day moving average is $184.92. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, research analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DASH. Roth Mkm reiterated a “neutral” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Thursday, February 19th. BTIG Research reiterated a “buy” rating and issued a $280.00 price objective on shares of DoorDash in a research note on Thursday, May 7th. The Goldman Sachs Group set a $280.00 price objective on shares of DoorDash in a research note on Thursday, May 7th. Bank of America increased their price objective on shares of DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, KeyCorp increased their price objective on shares of DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.58.

Insider Activity at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the transaction, the director directly owned 19,279 shares of the company’s stock, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% 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 three months, insiders sold 68,558 shares of company stock valued at $10,914,640. 5.83% of the stock is currently 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.