Capelight Capital Asset Management LP Buys New Position in DoorDash, Inc. $DASH

Key Points

• Capelight Capital Asset Management disclosed a new stake in DoorDash during the first quarter, buying 11,000 shares worth about $1.65 million. The position represents roughly 1.2% of the fund’s portfolio.
• DoorDash continues to attract heavy institutional interest, with 90.64% of shares owned by hedge funds and other institutional investors. Several firms recently initiated or expanded positions in the stock.
• Analysts remain largely constructive on DoorDash despite some recent target cuts, with a consensus rating of “Moderate Buy” and an average price target of $256.11. The company also beat earnings estimates in its latest quarter, reporting $0.42 EPS on 33.1% revenue growth year over year.

Capelight Capital Asset Management LP bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 11,000 shares of the company's stock, valued at approximately $1,652,000. DoorDash makes up approximately 1.2% of Capelight Capital Asset Management LP's portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. Eastern Bank boosted its position in DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after buying an additional 100 shares during the period. MV Capital Management Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at $26,000. Swiss RE Ltd. acquired a new stake in shares of DoorDash in the fourth quarter valued at $28,000. ST Germain D J Co. Inc. purchased a new position in DoorDash in the fourth quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in DoorDash in the fourth quarter valued at $32,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DASH shares. Zacks Research raised DoorDash from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Piper Sandler cut their target price on shares of DoorDash from $220.00 to $205.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Susquehanna reduced their target price on shares of DoorDash from $250.00 to $225.00 and set a "positive" rating on the stock in a report on Friday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $265.00 price target on shares of DoorDash in a research note on Thursday, May 7th. Finally, Wells Fargo & Company lifted their price target on shares of DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $256.11.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $192.01 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm has a market capitalization of $83.66 billion, a PE ratio of 91.43 and a beta of 1.78. The stock's 50-day simple moving average is $165.79 and its 200-day simple moving average is $180.47.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the sale, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. 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 90 days, insiders have sold 42,707 shares of company stock worth $7,113,039. 5.83% of the stock is currently owned by company insiders.

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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