Pictet Asset Management Holding SA Boosts Stock Holdings in DoorDash, Inc. $DASH

Pictet Asset Management Holding SA grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 35.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 786,379 shares of the company’s stock after buying an additional 207,086 shares during the quarter. Pictet Asset Management Holding SA owned 0.18% of DoorDash worth $118,075,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DASH. Norges Bank purchased a new stake in DoorDash during the 4th quarter valued at about $1,093,650,000. Wellington Management Group LLP increased its stake in DoorDash by 593.1% in the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD lifted its position in DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after purchasing an additional 3,447,754 shares during the last quarter. Coatue Management LLC lifted its position in DoorDash by 77.8% in the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after purchasing an additional 1,910,488 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of DoorDash during the fourth quarter valued at approximately $372,128,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

DASH opened at $183.42 on Monday. 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 stock has a market capitalization of $79.92 billion, a PE ratio of 87.34 and a beta of 1.83. The stock’s 50 day moving average price is $165.50 and its 200-day moving average price is $181.54. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share 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 analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, equities research analysts predict that DoorDash, Inc. will post 2.41 EPS for the current year.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares of the company’s stock, valued at $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the sale, the insider owned 81,106 shares of the company’s stock, valued at $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. 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 sold 63,558 shares of company stock worth $10,224,940. 5.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DASH shares. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a report on Thursday, May 7th. Argus set a $190.00 price target on shares of DoorDash in a report on Thursday, June 11th. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Mizuho cut their price target on shares of DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Finally, Guggenheim restated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.11.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

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.