Bank of New York Mellon Corp Cuts Stock Position in DoorDash, Inc. $DASH

Bank of New York Mellon Corp trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 1.6% during the first quarter, HoldingsChannel reports. The firm owned 2,352,748 shares of the company’s stock after selling 37,060 shares during the period. Bank of New York Mellon Corp’s holdings in DoorDash were worth $353,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MV Capital Management Inc. acquired a new stake in DoorDash during the fourth quarter worth about $26,000. Eastern Bank raised its position in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Swiss RE Ltd. acquired a new stake in shares of DoorDash in the fourth quarter valued at $28,000. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at $29,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of DASH stock opened at $184.14 on Friday. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The stock has a market capitalization of $80.23 billion, a PE ratio of 87.69 and a beta of 1.78. 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’s fifty day moving average is $169.76 and its 200-day moving average is $177.68.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.15 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. Equities research analysts expect that DoorDash, Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DASH. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a research report on Thursday, May 7th. DA Davidson decreased their price objective on DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. KeyCorp lowered their price objective on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday. Argus set a $190.00 price target on DoorDash in a research note on Thursday, June 11th. Finally, Moffett Nathanson set a $276.00 price target on DoorDash in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $252.89.

Insiders Place Their Bets

In related news, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. 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, Director Shona L. Brown sold 582 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the transaction, the director owned 31,156 shares of the company’s stock, valued at approximately $5,516,481.36. This represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 84,927 shares of company stock worth $15,124,932 over the last ninety days. Company insiders own 5.83% of the company’s stock.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

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.