Fulcrum Asset Management LLP Acquires 133,917 Shares of DoorDash, Inc. $DASH

Fulcrum Asset Management LLP acquired a new position in DoorDash, Inc. (NASDAQ:DASH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 133,917 shares of the company’s stock, valued at approximately $24,580,000. DoorDash accounts for 1.1% of Fulcrum Asset Management LLP’s portfolio, making the stock its 11th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in DoorDash by 2,304.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock valued at $633,635,000 after purchasing an additional 3,308,512 shares during the last quarter. Assenagon Asset Management S.A. grew its position in DoorDash by 372.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after purchasing an additional 2,472,980 shares during the period. Janus Henderson Group PLC raised its stake in shares of DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after buying an additional 2,225,954 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of DoorDash by 15,993.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,216,478 shares of the company’s stock valued at $223,285,000 after buying an additional 1,208,919 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its stake in shares of DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after buying an additional 1,145,078 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DASH shares. Truist Financial upped their target price on DoorDash from $336.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. TD Cowen reiterated a “buy” rating on shares of DoorDash in a research report on Tuesday, October 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price target on shares of DoorDash in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on DoorDash from $255.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Argus upped their price objective on DoorDash from $190.00 to $270.00 in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $248.66.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 29,567 shares of DoorDash stock in a transaction on Monday, August 24th. The shares were sold at an average price of $230.00, for a total transaction of $6,800,410.00. Following the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at $345,000. The trade was a 95.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $228.31, for a total transaction of $3,424,650.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 349,430 shares of company stock worth $76,644,002 in the last quarter. 44.90% of the stock is owned by insiders.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Lyft launched Lyft Go, a $9.99 monthly membership that includes DashPass and 8% credits on Lyft rides for future rides or DoorDash orders. The bundle could help DoorDash attract and retain customers, though its financial impact is not yet known. Lyft Debuts Joint Membership Program With DoorDash
• Neutral Sentiment: Rosenblatt Securities lowered its DoorDash price target to $225 from $270 but maintained a Buy rating. The cut signals a more cautious outlook, although the new target remains above the cited share price. Rosenblatt Securities analyst ratings
• Negative Sentiment: Small grocers have questioned whether DoorDash’s proposed Instacart deal would benefit them, highlighting potential pushback as the transaction faces scrutiny and uncertainty. Grocers push back on DoorDash’s Instacart deal
• Negative Sentiment: Director Stanley Tang sold 23,125 shares, cutting his direct holdings by about 69%. The sale was made under a pre-arranged trading plan, which may reduce its significance as a signal about his view of the stock. SEC filing for Stanley Tang share sale

DoorDash Price Performance

Shares of DoorDash stock opened at $179.67 on Monday. The business has a 50 day simple moving average of $193.38 and a two-hundred day simple moving average of $182.51. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $239.00. The stock has a market capitalization of $77.85 billion, a P/E ratio of 74.24 and a beta of 1.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.46.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.25. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. As a group, analysts predict that DoorDash, Inc. will post 2.68 EPS for the current fiscal year.

DoorDash Company Profile

DoorDash, Inc operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup.

The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.