Delta Global Management LP Invests $14.84 Million in DoorDash, Inc. $DASH

Delta Global Management LP acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 98,864 shares of the company’s stock, valued at approximately $14,844,000. DoorDash makes up 1.2% of Delta Global Management LP’s investment portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. OMERS ADMINISTRATION Corp lifted its stake in DoorDash by 42.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 13,696 shares of the company’s stock valued at $2,056,000 after buying an additional 4,101 shares in the last quarter. Ashe Capital Management LP acquired a new stake in shares of DoorDash during the first quarter worth $40,090,000. Dai ichi Life Insurance Company Ltd lifted its position in DoorDash by 9.5% in the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 17,749 shares of the company’s stock valued at $2,665,000 after acquiring an additional 1,539 shares in the last quarter. Renaissance Technologies LLC lifted its position in DoorDash by 7.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,426,355 shares of the company’s stock valued at $214,167,000 after acquiring an additional 103,520 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in DoorDash in the 1st quarter worth $364,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stanley Tang sold 23,125 shares of the company’s 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the sale, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. The trade was a 2.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 74,927 shares of company stock worth $13,241,532. Corporate insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DASH. The Goldman Sachs Group set a $280.00 price target on DoorDash in a research note on Thursday, May 7th. Guggenheim reaffirmed a “buy” rating and set a $255.00 price objective on shares of DoorDash in a research report on Tuesday, June 23rd. Stifel Nicolaus decreased their price objective on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 13th. DA Davidson dropped their target price on DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, TD Cowen restated a “buy” rating on shares of DoorDash in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

DoorDash Trading Up 1.8%

DoorDash stock opened at $172.91 on Friday. The firm has a 50-day moving average of $172.22 and a 200-day moving average of $176.04. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $75.34 billion, a price-to-earnings ratio of 82.34 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (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 for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. On average, equities analysts expect that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal 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.