Castle Hook Partners LP Takes $50.76 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Castle Hook Partners LP purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 302,595 shares of the company's stock, valued at approximately $50,760,000. DoorDash makes up 0.6% of Castle Hook Partners LP's investment portfolio, making the stock its 28th biggest position. Castle Hook Partners LP owned approximately 0.07% of DoorDash as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. Norges Bank purchased a new position in shares of DoorDash during the 4th quarter worth approximately $597,443,000. Capital World Investors boosted its position in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after buying an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. lifted its stake in DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in DoorDash during the fourth quarter worth about $146,094,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

DASH stock traded up $0.60 during trading on Friday, reaching $183.56. 3,422,208 shares of the company were exchanged, compared to its average volume of 4,179,110. The stock's 50 day moving average price is $184.61 and its 200 day moving average price is $180.63. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The company has a market cap of $77.11 billion, a P/E ratio of 679.85 and a beta of 1.68.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business posted ($0.06) EPS. DoorDash's quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DASH shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Needham & Company LLC lifted their target price on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday. Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Roth Mkm lifted their price target on shares of DoorDash from $165.00 to $193.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, FBN Securities assumed coverage on shares of DoorDash in a report on Friday, March 28th. They issued an "outperform" rating and a $230.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $209.97.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 15,198 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the completion of the transaction, the chief financial officer now owns 351,970 shares of the company's stock, valued at approximately $71,840,596.70. The trade was a 4.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now owns 14,778 shares in the company, valued at approximately $3,006,584.10. This trade represents a 8.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,573 shares of company stock valued at $30,407,073. Insiders own 7.92% of the company's stock.

DoorDash Company 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.