Monetta Financial Services Inc. Takes $1.01 Million Position in DoorDash, Inc. $DASH

Monetta Financial Services Inc. purchased a new position in DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,500 shares of the company’s stock, valued at approximately $1,015,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MV Capital Management Inc. acquired a new stake in shares of DoorDash during the 4th quarter valued at approximately $26,000. Sunbelt Securities Inc. boosted its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares in the last quarter. Swiss RE Ltd. acquired a new position in DoorDash in the fourth quarter worth approximately $28,000. ST Germain D J Co. Inc. acquired a new stake in DoorDash during the 4th quarter worth about $29,000. Finally, Morse Asset Management Inc acquired a new stake in DoorDash during the 3rd quarter valued at $36,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Zacks upgrade: Zacks Research raised DoorDash from “strong sell” to “hold,” reducing a notable source of negative sentiment around the stock. Zacks.com
• Positive Sentiment: Broader retail strategy: DoorDash is promoting back-to-school shopping through partnerships with Barnes & Noble, Carter’s and Kohl’s, supporting its effort to increase order frequency and diversify revenue beyond meals. DoorDash Makes Back-to-School Shopping Easier
• Positive Sentiment: New product category: DoorDash has begun selling video games, another move to broaden its marketplace and capture additional consumer spending, although the offering reportedly does not involve standard doorstep delivery. DoorDash Starts Selling Video Games
• Neutral Sentiment: Autonomous delivery developments: DoorDash and Grubhub are reportedly taking delivery robots that Uber did not want. The development could improve delivery efficiency over time, but the financial benefits and implementation costs are not yet clear. Grubhub and DoorDash Take Delivery Robots
• Neutral Sentiment: Market context: A report on recent large stock moves noted that DoorDash ticked higher while Serve Robotics fell after cutting guidance, suggesting investor focus on execution and the economics of delivery automation. Serve Robotics and DoorDash Market Moves
• Negative Sentiment: Legal overhang: Separate lawsuits involving DoorDash drivers and a fatal incident connected to a DoorDash pickup could create reputational or liability concerns, though the reports do not indicate a material financial impact on the company. DoorDash Drivers Sue Police Chief Lawsuit Following Fatal DoorDash Pickup

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the sale, the chief financial officer directly owned 252,443 shares in the company, valued at approximately $47,469,381.72. The trade was a 7.03% 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. Insiders have sold a total of 142,620 shares of company stock worth $26,822,778 in the last three months. Insiders own 5.28% of the company’s stock.

DoorDash Price Performance

Shares of DASH opened at $220.22 on Thursday. The business has a 50-day simple moving average of $189.94 and a two-hundred day simple moving average of $174.97. The stock has a market cap of $95.42 billion, a PE ratio of 115.30 and a beta of 1.78. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company posted $0.65 EPS. The business’s revenue was up 35.6% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DASH shares. Rothschild & Co Redburn set a $350.00 target price on DoorDash in a report on Tuesday, May 12th. KeyCorp reduced their price target on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Argus set a $190.00 price objective on DoorDash in a research report on Thursday, June 11th. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of DoorDash from $199.00 to $225.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Twenty-three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $254.09.

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.