Westfield Capital Management Co. LP Raises Stock Position in DoorDash, Inc. $DASH

Westfield Capital Management Co. LP increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 8.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 425,080 shares of the company’s stock after acquiring an additional 31,452 shares during the quarter. Westfield Capital Management Co. LP’s holdings in DoorDash were worth $96,272,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

DASH has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 13th. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research note on Thursday, May 7th. Evercore set a $300.00 price target on DoorDash in a research report on Thursday, February 19th. Cantor Fitzgerald lowered their price target on DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, UBS Group raised their target price on shares of DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $259.58.

DoorDash Price Performance

DoorDash stock opened at $160.07 on Friday. The firm has a market cap of $69.75 billion, a P/E ratio of 76.22 and a beta of 1.83. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The business’s fifty day moving average is $162.32 and its two-hundred day moving average is $186.05.

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 forecast that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Activity

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the sale, the general counsel owned 128,216 shares of the company’s stock, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 of the company’s stock, valued at approximately $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 69,808 shares of company stock valued at $11,135,403. Corporate insiders own 5.83% of the company’s stock.

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.