Ardmore Road Asset Management LP Raises Stake in DoorDash, Inc. $DASH

Key Points

• Ardmore Road Asset Management LP increased its stake in DoorDash by 6.7%, now holding 80,000 shares valued at approximately $14.62 million, making DoorDash the firm's 29th largest investment.
• Institutional investors currently own 90.64% of DoorDash stock, with notable recent acquisitions by firms like Junto Capital Management and The Manufacturers Life Insurance Company.
• DoorDash reported earnings of $0.65 per share for the last quarter, exceeding analyst expectations, and is projected to deliver $2.22 EPS for the current year.

Ardmore Road Asset Management LP increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,000 shares of the company's stock after acquiring an additional 5,000 shares during the quarter. DoorDash makes up about 1.4% of Ardmore Road Asset Management LP's portfolio, making the stock its 29th largest position. Ardmore Road Asset Management LP's holdings in DoorDash were worth $14,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Mutual of America Capital Management LLC bought a new stake in shares of DoorDash in the 1st quarter worth approximately $7,200,000. Junto Capital Management LP bought a new stake in shares of DoorDash during the first quarter valued at approximately $29,261,000. Blair William & Co. IL increased its position in DoorDash by 12.8% in the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after purchasing an additional 551 shares during the last quarter. Brighton Jones LLC lifted its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the period. Finally, Flagship Harbor Advisors LLC increased its holdings in DoorDash by 14.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after buying an additional 206 shares during the period. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. UBS Group boosted their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group raised their target price on DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 11th. BTIG Research lifted their target price on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Cantor Fitzgerald reiterated an "overweight" rating and set a $260.00 price target (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Stock Down 0.5%

Shares of DASH traded down $1.15 during trading hours on Tuesday, hitting $244.10. The stock had a trading volume of 2,683,546 shares, compared to its average volume of 4,638,260. The firm has a 50 day simple moving average of $245.82 and a 200-day simple moving average of $213.06. The firm has a market capitalization of $104.28 billion, a P/E ratio of 135.61 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 1-year low of $122.32 and a 1-year high of $278.15.

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

Insider Buying and Selling

In other DoorDash news, Director Shona L. Brown sold 1,650 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $272.00, for a total transaction of $448,800.00. Following the completion of the sale, the director directly owned 41,827 shares in the company, valued at $11,376,944. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 901,361 shares of company stock worth $218,575,187 in the last three months. Insiders own 5.83% of the company's stock.

DoorDash 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.