Spyglass Capital Management LLC Buys 27,606 Shares of DoorDash, Inc. $DASH

Spyglass Capital Management LLC lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,176 shares of the company’s stock after purchasing an additional 27,606 shares during the period. DoorDash accounts for 3.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 20th largest position. Spyglass Capital Management LLC’s holdings in DoorDash were worth $44,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of DASH. Amundi boosted its position in DoorDash by 31.1% in the 1st quarter. Amundi now owns 2,315,722 shares of the company’s stock valued at $347,706,000 after buying an additional 549,387 shares during the last quarter. RDST Capital LLC increased its stake in shares of DoorDash by 176.7% in the 1st quarter. RDST Capital LLC now owns 369,520 shares of the company’s stock valued at $55,483,000 after buying an additional 235,985 shares during the period. Empowered Funds LLC increased its stake in shares of DoorDash by 3.0% in the 1st quarter. Empowered Funds LLC now owns 48,765 shares of the company’s stock valued at $7,322,000 after buying an additional 1,403 shares during the period. Quantinno Capital Management LP raised its position in shares of DoorDash by 4.9% during the first quarter. Quantinno Capital Management LP now owns 655,095 shares of the company’s stock worth $98,363,000 after acquiring an additional 30,881 shares during the last quarter. Finally, Ampersand Capital Group L.P. raised its position in shares of DoorDash by 8.6% during the first quarter. Ampersand Capital Group L.P. now owns 138,379 shares of the company’s stock worth $20,778,000 after acquiring an additional 10,961 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent research reports. Zacks Research cut DoorDash from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. UBS Group lifted their price objective on DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. BTIG Research dropped their price objective on DoorDash from $280.00 to $225.00 and set a “buy” rating for the company in a report on Friday, June 12th. Citigroup restated a “market outperform” rating on shares of DoorDash in a research report on Monday, June 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of DoorDash in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Buying and Selling

In related news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of DoorDash 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. 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 a total of 74,927 shares of company stock worth $13,241,532 over the last quarter. Insiders own 5.83% of the company’s stock.

DoorDash Stock Up 6.0%

NASDAQ:DASH opened at $195.52 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The stock’s fifty day simple moving average is $173.47 and its 200-day simple moving average is $175.12. The firm has a market capitalization of $85.19 billion, a P/E ratio of 93.11 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis. Equities research analysts expect that DoorDash, Inc. will post 2.39 earnings per share for the current year.

About DoorDash

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.