Fernbridge Capital Management LP Acquires 29,690 Shares of DoorDash, Inc. (NASDAQ:DASH)

Fernbridge Capital Management LP raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 282,736 shares of the company’s stock after purchasing an additional 29,690 shares during the period. DoorDash accounts for approximately 2.5% of Fernbridge Capital Management LP’s holdings, making the stock its 12th biggest position. Fernbridge Capital Management LP owned 0.07% of DoorDash worth $40,355,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. increased its stake in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the second quarter valued at $32,000. Meeder Asset Management Inc. increased its stake in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the period. Versant Capital Management Inc lifted its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares in the last quarter. Finally, Quest Partners LLC boosted its position in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DASH shares. Bank of America lifted their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price target on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a research note on Wednesday, September 25th. Roth Mkm boosted their price target on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Truist Financial boosted their price objective on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.03.

DoorDash Trading Down 0.1 %

DoorDash stock opened at $179.01 on Wednesday. The firm has a market cap of $74.36 billion, a PE ratio of -397.80, a P/E/G ratio of 13.77 and a beta of 1.67. The stock’s 50 day simple moving average is $154.57 and its two-hundred day simple moving average is $129.52. DoorDash, Inc. has a 12 month low of $92.56 and a 12 month high of $181.30.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.19) earnings per share. On average, equities research analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, General Counsel Tia Sherringham sold 12,950 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the completion of the transaction, the general counsel now owns 145,917 shares of the company’s stock, valued at $24,802,971.66. This represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keith Yandell sold 5,509 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total value of $970,906.16. Following the sale, the insider now owns 118,712 shares of the company’s stock, valued at $20,921,802.88. The trade was a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 553,262 shares of company stock valued at $85,515,902. 7.92% of the stock is owned by company insiders.

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.