Saudi Central Bank lifted its stake in DoorDash, Inc. (NASDAQ:DASH – Free Report) by 81.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 25,828 shares of the company’s stock after purchasing an additional 11,580 shares during the quarter. Saudi Central Bank’s holdings in DoorDash were worth $4,766,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of DASH. Odyssean LLC purchased a new position in shares of DoorDash in the 2nd quarter valued at approximately $3,490,000. Sapient Capital LLC purchased a new stake in DoorDash in the second quarter valued at $732,000. TD Waterhouse Canada Inc. boosted its stake in shares of DoorDash by 19.4% in the second quarter. TD Waterhouse Canada Inc. now owns 2,475 shares of the company’s stock worth $468,000 after buying an additional 402 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of DoorDash by 2.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after purchasing an additional 67 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in DoorDash by 51.4% during the second quarter. Concurrent Investment Advisors LLC now owns 13,027 shares of the company’s stock valued at $2,404,000 after buying an additional 4,425 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.
DoorDash Price Performance
Shares of NASDAQ DASH opened at $211.73 on Monday. The stock’s 50-day moving average is $203.81 and its two-hundred day moving average is $178.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a market cap of $91.74 billion, a price-to-earnings ratio of 110.85 and a beta of 1.79.
Insider Buying and Selling at DoorDash
In related news, CFO Ravi Inukonda sold 16,044 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $228.55, for a total value of $3,666,856.20. Following the completion of the transaction, the chief financial officer directly owned 217,911 shares of the company’s stock, valued at $49,803,559.05. This represents a 6.86% decrease in their ownership of the stock. 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, General Counsel Tia Sherringham sold 2,265 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $227.64, for a total transaction of $515,604.60. Following the sale, the general counsel owned 118,262 shares of the company’s stock, valued at $26,921,161.68. This represents a 1.88% decrease in their position. 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. In the last ninety days, insiders have sold 384,553 shares of company stock worth $83,609,490. 44.90% of the stock is currently owned by corporate insiders.
More DoorDash News
Here are the key news stories impacting DoorDash this week:
- Positive Sentiment: Rosenblatt Securities initiated coverage of DoorDash with a Buy recommendation, adding potential analyst support after the stock’s strong run over the past year. Rosenblatt initiates coverage of DoorDash with buy recommendation
- Positive Sentiment: DoorDash announced partnerships and business initiatives that could expand order volume and advertising opportunities, including delivery for Natural Grocers, fan experiences with Live Nation, workplace meal programs, and independent ad-measurement validation through Circana. Natural Grocers expands delivery through DoorDash DoorDash partners with Live Nation DoorDash teams with Circana
- Neutral Sentiment: Since its latest earnings report, DASH has gained about 4.1%. Revenue exceeded expectations and rose 35.6% year over year, although earnings per share narrowly missed estimates and declined from the prior-year period. At roughly 111 times earnings, valuation leaves the stock sensitive to execution and growth expectations. DoorDash stock performance since earnings
- Negative Sentiment: Director Stanley Tang sold approximately $7.0 million of shares, reducing his position by nearly 75%. CFO Ravi Inukonda also sold about $3.7 million, cutting ownership by 6.9%. Both transactions were made under pre-arranged Rule 10b5-1 plans, which reduces—but does not eliminate—their signaling impact.
- Negative Sentiment: Walmart is expanding restaurant delivery through a Dunkin’ partnership, increasing competition for DoorDash and Uber Eats and potentially putting pressure on delivery volume, merchant relationships, and pricing. Walmart expands restaurant delivery
- Negative Sentiment: Several reports involving driver misconduct, disputes over pay practices, and delivery-related incidents create reputational and operational risks, although these appear isolated and are unlikely to materially affect near-term financial results.
Analysts Set New Price Targets
DASH has been the subject of a number of recent analyst reports. Benchmark cut their price objective on DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Wedbush raised their target price on shares of DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a research report on Tuesday, May 12th. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a report on Monday, August 24th. Finally, KeyCorp lowered their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $254.97.
View Our Latest Analysis on DoorDash
DoorDash 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.
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