Arrow Capital Management LLC Takes $5.50 Million Position in DoorDash, Inc. $DASH

Key Points

• Arrow Capital Management opened a new DoorDash position in the fourth quarter, buying 24,305 shares worth about $5.5 million. DoorDash now ranks as its 13th-largest holding and makes up 3.2% of the portfolio.
• Institutional ownership remains very high, with 90.64% of DoorDash shares held by institutions. Several large investors, including Vanguard, Morgan Stanley, and State Street, also boosted their stakes in the latest quarter.
• Analysts remain mostly positive on DoorDash, with a consensus rating of “Moderate Buy” and an average price target of $256.11. However, some firms have trimmed targets recently, reflecting a mixed outlook despite continued growth expectations.

Arrow Capital Management LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,305 shares of the company's stock, valued at approximately $5,505,000. DoorDash makes up 3.2% of Arrow Capital Management LLC's investment portfolio, making the stock its 13th largest position.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of DoorDash by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company's stock worth $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. SC US Ttgp LTD. increased its stake in DoorDash by 1.6% in the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company's stock worth $7,176,387,000 after buying an additional 506,358 shares in the last quarter. Morgan Stanley increased its stake in DoorDash by 2.3% in the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company's stock worth $3,971,741,000 after buying an additional 391,596 shares in the last quarter. State Street Corp raised its holdings in DoorDash by 3.0% during the fourth quarter. State Street Corp now owns 15,761,072 shares of the company's stock valued at $3,569,568,000 after acquiring an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in DoorDash by 32.8% during 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 acquiring an additional 3,447,754 shares during the period. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the transaction, the insider directly owned 81,106 shares of the company's stock, valued at approximately $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 68,558 shares of company stock worth $10,914,640. 5.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DASH. Cantor Fitzgerald dropped their price objective on DoorDash from $285.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Roth Mkm reissued a "neutral" rating and set a $200.00 target price on shares of DoorDash in a research note on Thursday, February 19th. Zacks Research raised DoorDash from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Rothschild & Co Redburn set a $350.00 price target on DoorDash in a report on Tuesday, May 12th. Finally, DA Davidson dropped their price target on DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.11.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is drawing extra attention from a high-profile Brooklyn Beckham advertising campaign, which could boost brand awareness and consumer engagement. Brooklyn Beckham doubles down on family swipe in DoorDash ad
• Positive Sentiment: Unusual options activity showed heavy call buying in DASH, suggesting traders are positioning for further upside.
• Neutral Sentiment: DoorDash-related outage reports were resolved after thousands of users experienced issues, which may limit the damage if service stability holds going forward. DoorDash says 'issue' affecting thousands of customers has been resolved
• Neutral Sentiment: Coverage comparing DoorDash’s Q1 performance with other gig-economy names is mostly analytical and not a fresh company-specific catalyst. Q1 Earnings Highs And Lows: DoorDash NASDAQ: DASH Vs The Rest Of The Gig Economy Stocks
• Negative Sentiment: Multiple reports of app outages and user freezes could pressure sentiment if investors worry about reliability or customer retention. DoorDash faces outages: 36,000 users report issues in major cities

DoorDash Trading Up 4.7%

Shares of DoorDash stock opened at $173.49 on Friday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $163.81 and a 200-day moving average price of $183.38. The firm has a market cap of $75.59 billion, a price-to-earnings ratio of 82.61 and a beta of 1.83.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm's revenue for the quarter was up 33.1% on a year-over-year basis. Equities research analysts anticipate that DoorDash, Inc. will post 2.44 EPS for the current fiscal year.

DoorDash 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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