BUZZ-DoorDash rises after Sequoia's Lin discloses buying $100 mln of stock

Reuters12-02

BUZZ-DoorDash rises after Sequoia's Lin discloses buying $100 mln of stock

** DoorDash's DASH.O shares up 3.9% at $206.15 on Mon, and rising for fourth straight session, after director Alfred Lin unveiled buying stock in meal delivery platform

** Per a regulatory filing late Fri, Sequoia Capital's Lin bought more than 514,000 shares valued at roughly $100 mln last week

** On Nov 4, Roelof Botha stepped down as top boss at Sequoia, and Lin and Pat Grady became the VC firm's new stewards

** On Nov 6, DASH shares plunged about 17% after San Francisco-based co posted Q3 profit miss, and its plans to spend hundreds of millions more in its 2026 growth strategy amid mounting cost concerns rattled investors

** DASH has ~431 mln shares outstanding and Sequoia Capital is second-largest holder with ~31.18 mln shares behind Vanguard, according to LSEG data

** With the move on the session, shares up 23% YTD vs S&P 500 Consumer Discretionary index's .SPLRCD 5% advance and Nasdaq's .IXIC 21% gain

** Of 47 analysts covering DASH, 35 rate the stock "strong buy" or "buy", 12 rate "hold"; their median PT of $280 is down from $310 a month ago - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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