DoorDash, Inc. $DASH Shares Acquired by Shellback Capital LP

Key Points

• Shellback Capital LP increased its holdings in DoorDash by 60% during the first quarter, acquiring an additional 30,000 shares, bringing its total to 80,000 shares, valued at approximately $14.62 million.
• DoorDash reported a quarterly earnings increase, with earnings per share of $0.65, surpassing expectations of $0.42 and showing a 24.9% rise in revenue compared to the same period last year.
• Research analysts have raised their price targets for DoorDash, with BMO Capital Markets setting a new target of $288, indicating a strong optimistic outlook for the company's stock performance.

Shellback Capital LP raised its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 60.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,000 shares of the company's stock after purchasing an additional 30,000 shares during the period. DoorDash accounts for about 1.4% of Shellback Capital LP's holdings, making the stock its 28th biggest position. Shellback Capital LP's holdings in DoorDash were worth $14,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in DASH. Brighton Jones LLC increased its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Captrust Financial Advisors grew its position in shares of DoorDash by 13.3% during the fourth quarter. Captrust Financial Advisors now owns 9,251 shares of the company's stock worth $1,552,000 after acquiring an additional 1,089 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of DoorDash by 471.4% during the fourth quarter. CoreCap Advisors LLC now owns 760 shares of the company's stock worth $127,000 after acquiring an additional 627 shares during the last quarter. Deutsche Bank AG grew its position in shares of DoorDash by 15.0% during the fourth quarter. Deutsche Bank AG now owns 950,968 shares of the company's stock worth $159,525,000 after acquiring an additional 124,382 shares during the last quarter. Finally, Ethic Inc. grew its position in shares of DoorDash by 1.2% during the fourth quarter. Ethic Inc. now owns 34,997 shares of the company's stock worth $5,871,000 after acquiring an additional 421 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DASH. Susquehanna raised their target price on shares of DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a research report on Monday, August 11th. Cantor Fitzgerald restated an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Wedbush restated a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. Jefferies Financial Group raised their target price on shares of DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Finally, UBS Group raised their target price on shares of DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $266.71.

DoorDash Price Performance

DoorDash stock traded down $2.39 during midday trading on Friday, reaching $257.80. The company's stock had a trading volume of 676,743 shares, compared to its average volume of 4,552,747. DoorDash, Inc. has a fifty-two week low of $126.90 and a fifty-two week high of $278.15. 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 stock's 50 day simple moving average is $247.83 and its 200 day simple moving average is $215.48. The firm has a market capitalization of $110.13 billion, a PE ratio of 143.45 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.65 EPS 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 company 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 company earned ($0.38) earnings per share. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. On average, equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other DoorDash news, insider Keith Yandell sold 18,034 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $243.16, for a total value of $4,385,147.44. Following the completion of the sale, the insider owned 75,432 shares of the company's stock, valued at approximately $18,342,045.12. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 17,083 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $250.50, for a total value of $4,279,291.50. Following the completion of the sale, the chief executive officer directly owned 1,500 shares of the company's stock, valued at approximately $375,750. This trade represents a 91.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,019,042 shares of company stock valued at $248,122,219 in the last quarter. Corporate insiders own 5.83% of the company's stock.

DoorDash Company 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.