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

Spyglass Capital Management LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,176 shares of the company’s stock after purchasing an additional 27,606 shares during the quarter. DoorDash accounts for approximately 3.2% of Spyglass Capital Management LLC’s holdings, making the stock its 20th biggest position. Spyglass Capital Management LLC owned 0.07% of DoorDash worth $44,771,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Eastern Bank increased its holdings in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. MV Capital Management Inc. acquired a new position in shares of DoorDash during the fourth quarter valued at about $26,000. Swiss RE Ltd. bought a new stake in shares of DoorDash in the fourth quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new stake in shares of DoorDash in the fourth quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in DoorDash during the fourth quarter worth about $32,000. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 5,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. This trade represents a 7.03% 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 quarter, insiders have sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is owned by company insiders.

DoorDash Stock Performance

NASDAQ:DASH opened at $195.52 on Wednesday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The firm has a 50 day moving average of $173.47 and a 200-day moving average of $175.12. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock 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 announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the topic of several research reports. Weiss Ratings upgraded DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Wells Fargo & Company decreased their price objective on DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Susquehanna cut their target price on DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a research note on Friday, May 8th. Jefferies Financial Group raised their target price on DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Zacks Research downgraded shares of DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.89.

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.