Ardmore Road Asset Management LP Takes Position in DoorDash, Inc. $DASH

Ardmore Road Asset Management LP bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 183,000 shares of the company's stock, valued at approximately $27,477,000. DoorDash makes up approximately 1.8% of Ardmore Road Asset Management LP's investment portfolio, making the stock its 21st largest position.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in DoorDash by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company's stock valued at $9,835,229,000 after purchasing an additional 713,571 shares during the last quarter. SC US Ttgp LTD. boosted its stake in DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock worth $7,176,387,000 after purchasing an additional 506,358 shares during the last quarter. Morgan Stanley boosted its stake in DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company's stock worth $3,971,741,000 after purchasing an additional 391,596 shares during the last quarter. State Street Corp grew its holdings in shares of DoorDash by 3.0% during the fourth quarter. State Street Corp now owns 15,761,072 shares of the company's stock worth $3,569,568,000 after buying an additional 464,448 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock valued at $3,161,234,000 after buying an additional 3,447,754 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 19,095 shares of the business's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the transaction, the chief financial officer owned 252,443 shares in the company, valued at $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,927 shares of company stock worth $13,241,532 over the last 90 days. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of DASH opened at $172.91 on Monday. The firm has a 50-day simple moving average of $172.22 and a two-hundred day simple moving average of $175.68. The stock has a market cap of $75.34 billion, a PE ratio of 82.34 and a beta of 1.78. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. As a group, analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DASH shares. Needham & Company LLC reissued a "buy" rating and issued a $265.00 price target on shares of DoorDash in a research note on Thursday, May 7th. DA Davidson dropped their price objective on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company cut their price objective on shares of DoorDash from $200.00 to $199.00 and set an "equal weight" rating for the company in a report on Monday, July 6th. Argus set a $190.00 target price on shares of DoorDash in a research note on Thursday, June 11th. Finally, Susquehanna lowered their target price on DoorDash from $250.00 to $225.00 and set a "positive" rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $252.89.

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.

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