Stony Point Capital LLC Makes New $8.31 Million Investment in DoorDash, Inc. $DASH

Key Points

• Stony Point Capital LLC acquired 45,454 shares of DoorDash, Inc. valued at approximately $8.3 million, indicating significant institutional interest in the company.
• Insider selling was noted, with CEO Tony Xu selling 291,403 shares for over $69 million, reducing his holdings by 55.99%.
• DoorDash reported a 24.9% year-over-year revenue increase, with earnings per share of $0.65, surpassing analysts' expectations of $0.42.

Stony Point Capital LLC acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 45,454 shares of the company's stock, valued at approximately $8,308,000.

A number of other large investors have also added to or reduced their stakes in DASH. WPG Advisers LLC bought a new stake in shares of DoorDash in the 1st quarter worth $26,000. Harbour Investments Inc. increased its holdings in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares in the last quarter. SouthState Corp increased its holdings in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock worth $38,000 after purchasing an additional 183 shares in the last quarter. ORG Partners LLC increased its holdings in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DASH. Benchmark lifted their target price on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. KeyCorp reaffirmed an "overweight" rating and issued a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Bank of America lifted their price objective on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Piper Sandler lifted their price objective on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

DoorDash Stock Performance

DASH stock traded down $1.15 during midday trading on Tuesday, reaching $244.10. The stock had a trading volume of 2,682,240 shares, compared to its average volume of 4,638,183. The stock has a market cap of $104.28 billion, a PE ratio of 135.61 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a fifty day simple moving average of $245.82 and a two-hundred day simple moving average of $213.06. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted ($0.38) EPS. The company's revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 13,891 shares of DoorDash stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $247.22, for a total transaction of $3,434,133.02. Following the sale, the chief financial officer owned 215,397 shares of the company's stock, valued at approximately $53,250,446.34. The trade was a 6.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the sale, the chief operating officer directly owned 914,547 shares in the company, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 901,361 shares of company stock worth $218,575,187 in the last quarter. 5.83% of the stock is owned by insiders.

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.