Spyglass Capital Management LLC Has $73.53 Million Holdings in DoorDash, Inc. $DASH

Spyglass Capital Management LLC grew its position in DoorDash, Inc. (NASDAQ:DASH) by 33.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 398,484 shares of the company’s stock after acquiring an additional 100,308 shares during the period. DoorDash accounts for approximately 4.0% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Spyglass Capital Management LLC owned 0.09% of DoorDash worth $73,532,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DASH. Norges Bank bought a new stake in shares of DoorDash in the fourth quarter worth $1,093,650,000. Wellington Management Group LLP raised its position in DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after buying an additional 2,225,954 shares during the period. Finally, Coatue Management LLC lifted its holdings in DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after buying an additional 1,910,488 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DASH. Argus set a $190.00 price target on DoorDash in a research note on Thursday, June 11th. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a research note on Monday, August 24th. Truist Financial upped their target price on DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wedbush increased their target price on shares of DoorDash from $205.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Finally, Barclays lowered shares of DoorDash from an “equal weight” rating to a “strong sell” rating in a report on Monday, August 24th. Twenty-three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $254.53.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 10,134 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $225.00, for a total value of $2,280,150.00. Following the transaction, the director directly owned 10,361 shares of the company’s stock, valued at approximately $2,331,225. The trade was a 49.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,265 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $227.64, for a total value of $515,604.60. Following the transaction, the general counsel owned 118,262 shares in the company, valued at $26,921,161.68. The trade was a 1.88% 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. Insiders sold a total of 337,674 shares of company stock valued at $72,974,540 in the last 90 days. Company insiders own 44.90% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $231.74 on Tuesday. The stock has a 50-day moving average price of $200.29 and a 200-day moving average price of $177.07. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market cap of $100.41 billion, a PE ratio of 121.33 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 2.45 earnings per share for the current year.

DoorDash Company Profile

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.