Fernbridge Capital Management LP Boosts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Fernbridge Capital Management LP increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 11.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 282,736 shares of the company’s stock after acquiring an additional 29,690 shares during the quarter. DoorDash makes up about 2.5% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 12th largest position. Fernbridge Capital Management LP’s holdings in DoorDash were worth $40,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its position in shares of DoorDash by 18,975.0% during the 1st quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock valued at $314,000 after acquiring an additional 2,277 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of DoorDash by 1.6% during the 1st quarter. California State Teachers Retirement System now owns 427,904 shares of the company’s stock worth $58,931,000 after buying an additional 6,802 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of DoorDash by 658.5% during the 1st quarter. Tidal Investments LLC now owns 35,045 shares of the company’s stock worth $4,826,000 after buying an additional 30,425 shares during the last quarter. Comerica Bank raised its position in shares of DoorDash by 8.9% during the 1st quarter. Comerica Bank now owns 20,159 shares of the company’s stock valued at $2,776,000 after buying an additional 1,650 shares during the period. Finally, iA Global Asset Management Inc. lifted its holdings in DoorDash by 10.7% in the first quarter. iA Global Asset Management Inc. now owns 36,918 shares of the company’s stock valued at $5,084,000 after acquiring an additional 3,574 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Yandell sold 5,509 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.24, for a total transaction of $970,906.16. Following the completion of the sale, the insider now owns 118,712 shares in the company, valued at $20,921,802.88. This represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 553,262 shares of company stock valued at $85,515,902. Corporate insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

DASH has been the topic of a number of research analyst reports. Barclays lifted their target price on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research note on Wednesday, September 25th. Piper Sandler boosted their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Susquehanna boosted their target price on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Trading Down 0.1 %

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

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, sell-side analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

DoorDash 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.