Interchange Capital Partners LLC Increases Stake in DoorDash, Inc. $DASH

Interchange Capital Partners LLC grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,062 shares of the company’s stock after buying an additional 183 shares during the period. Interchange Capital Partners LLC’s holdings in DoorDash were worth $508,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GFG Capital LLC purchased a new position in shares of DoorDash during the second quarter valued at approximately $30,000. Saudi Central Bank purchased a new position in shares of DoorDash during the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new position in shares of DoorDash during the first quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new position in shares of DoorDash during the first quarter valued at approximately $27,000. Finally, Harbour Investments Inc. increased its stake in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DASH shares. Royal Bank Of Canada lifted their price target on DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. BTIG Research restated a “buy” rating and set a $315.00 price target on shares of DoorDash in a research report on Monday, October 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $325.00 target price (up from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Oppenheimer boosted their target price on DoorDash from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Morgan Stanley boosted their target price on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $287.79.

DoorDash Trading Up 1.4%

Shares of NASDAQ:DASH opened at $258.15 on Friday. The company has a market cap of $110.28 billion, a P/E ratio of 143.42 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 1 year low of $152.26 and a 1 year high of $285.50. The stock’s fifty day moving average price is $259.75 and its 200-day moving average price is $233.03.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) earnings per share. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 291,403 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the sale, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the sale, the director owned 22,545 shares of the company’s stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 932,156 shares of company stock valued at $233,565,302. Company insiders own 5.83% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.