DoorDash, Inc. (NASDAQ:DASH) Stock Position Cut by Tremblant Capital Group

Tremblant Capital Group decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,279 shares of the company's stock after selling 67,153 shares during the quarter. DoorDash comprises approximately 4.1% of Tremblant Capital Group's portfolio, making the stock its 7th biggest holding. Tremblant Capital Group owned approximately 0.06% of DoorDash worth $39,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tybourne Capital Management HK Ltd. increased its holdings in shares of DoorDash by 1,131.8% in the fourth quarter. Tybourne Capital Management HK Ltd. now owns 148,922 shares of the company's stock worth $24,982,000 after purchasing an additional 136,832 shares during the period. Tidal Investments LLC grew its position in DoorDash by 74.1% in the fourth quarter. Tidal Investments LLC now owns 21,447 shares of the company's stock worth $3,598,000 after acquiring an additional 9,126 shares in the last quarter. State of Wyoming purchased a new position in DoorDash in the fourth quarter worth $187,000. Snowden Capital Advisors LLC purchased a new position in DoorDash in the fourth quarter worth $251,000. Finally, Shellback Capital LP purchased a new position in DoorDash in the fourth quarter worth $8,388,000. Institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the sale, the chief operating officer now owns 887,348 shares in the company, valued at $164,674,041.84. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now owns 18,285 shares in the company, valued at $3,313,424.85. This represents a 71.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,612 shares of company stock valued at $18,808,326. Corporate insiders own 5.83% of the company's stock.

DoorDash Price Performance

DASH stock traded down $3.90 during trading on Thursday, reaching $200.87. The company had a trading volume of 3,168,977 shares, compared to its average volume of 4,183,605. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The company has a market cap of $85.12 billion, a P/E ratio of 743.96 and a beta of 1.68. The business has a 50 day moving average of $187.29 and a 200 day moving average of $183.14.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. DoorDash's revenue was up 20.7% on a year-over-year basis. Research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

DASH has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Roth Capital set a $191.00 price target on shares of DoorDash and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Mizuho upped their price target on shares of DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Oppenheimer restated a "hold" rating on shares of DoorDash in a research report on Monday, March 10th. Finally, The Goldman Sachs Group upped their price target on shares of DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $209.97.

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.