Delta Global Management LP Buys New Holdings in DoorDash, Inc. $DASH

Delta Global Management LP purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 98,864 shares of the company’s stock, valued at approximately $14,844,000. DoorDash accounts for approximately 1.2% of Delta Global Management LP’s investment portfolio, making the stock its 29th largest position.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after buying an additional 303 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of DoorDash by 3.6% during the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after acquiring an additional 285 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of DoorDash by 92.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock worth $1,049,000 after acquiring an additional 2,049 shares during the period. Finally, Baird Financial Group Inc. acquired a new position in shares of DoorDash during the 2nd quarter worth approximately $222,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DASH. Citigroup restated a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. Piper Sandler reduced their price objective on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a report on Tuesday, May 12th. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Finally, Jefferies Financial Group raised their target price on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $252.89.

DoorDash Price Performance

Shares of DoorDash stock opened at $172.91 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $75.34 billion, a price-to-earnings ratio of 82.34 and a beta of 1.78. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a 50-day simple moving average of $172.22 and a two-hundred day simple moving average of $176.04.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 33.1% compared to the same quarter last year. Analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 23,125 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 74,927 shares of company stock valued at $13,241,532 in the last quarter. Company insiders own 5.83% of the company’s stock.

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.