Fernbridge Capital Management LP Raises Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Fernbridge Capital Management LP grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,007 shares of the company's stock after acquiring an additional 27,271 shares during the period. DoorDash comprises 2.7% of Fernbridge Capital Management LP's portfolio, making the stock its 12th largest position. Fernbridge Capital Management LP owned 0.07% of DoorDash worth $52,004,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in DoorDash during the 3rd quarter valued at about $1,109,000. Tidal Investments LLC boosted its position in DoorDash by 19.9% in the third quarter. Tidal Investments LLC now owns 12,321 shares of the company's stock worth $1,759,000 after purchasing an additional 2,049 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of DoorDash during the 3rd quarter valued at about $6,250,000. Franklin Resources Inc. increased its position in shares of DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock valued at $570,135,000 after purchasing an additional 501,905 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in DoorDash by 1.1% during the third quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company's stock valued at $107,064,000 after buying an additional 8,195 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Up 4.6 %

NASDAQ:DASH traded up $9.04 during trading hours on Friday, reaching $205.24. The company had a trading volume of 2,173,110 shares, compared to its average volume of 4,213,005. The firm has a market capitalization of $86.22 billion, a PE ratio of 759.92 and a beta of 1.69. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The stock has a 50-day moving average of $185.23 and a two-hundred day moving average of $178.99.

Insider Transactions at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $187.22, for a total value of $266,788.50. Following the sale, the chief financial officer now owns 337,430 shares in the company, valued at $63,173,644.60. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the sale, the director now owns 14,778 shares of the company's stock, valued at $3,006,584.10. This trade represents a 8.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,511 shares of company stock worth $30,394,673 in the last three months. Insiders own 7.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on DASH shares. Cantor Fitzgerald decreased their price objective on DoorDash from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. FBN Securities initiated coverage on shares of DoorDash in a report on Friday, March 28th. They issued an "outperform" rating and a $230.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating on shares of DoorDash in a report on Tuesday. Roth Mkm upped their price target on DoorDash from $165.00 to $193.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of DoorDash in a report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $209.66.

About DoorDash

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.