Berkshire Capital Holdings Inc. Increases Stake in DoorDash, Inc. $DASH

Key Points

• Berkshire Capital Holdings Inc. significantly increased its stake in DoorDash by 570,000%, now owning 57,010 shares valued at approximately $10.42 million, making it the company's 6th biggest position.
• DoorDash recently reported earnings of $0.65 EPS for the last quarter, surpassing analysts' expectations, with revenue reaching $3.28 billion, a 24.9% increase year-over-year.
• Several analysts have raised their price targets for DoorDash, with a consensus target price now at $263.88, reflecting a "Moderate Buy" rating from the analysts surveyed.

Berkshire Capital Holdings Inc. increased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 570,000.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,010 shares of the company's stock after purchasing an additional 57,000 shares during the quarter. DoorDash accounts for 5.0% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 6th biggest holding. Berkshire Capital Holdings Inc.'s holdings in DoorDash were worth $10,420,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest & Ethical Investments L.P. increased its position in DoorDash by 173.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 7,933 shares of the company's stock worth $1,448,000 after buying an additional 5,033 shares in the last quarter. Roberts Capital Advisors LLC purchased a new position in shares of DoorDash in the 1st quarter valued at $573,000. Kids Capital Management L.P. purchased a new position in DoorDash in the 1st quarter worth approximately $9,230,000. State of New Jersey Common Pension Fund D grew its stake in shares of DoorDash by 5.8% during the first quarter. State of New Jersey Common Pension Fund D now owns 119,926 shares of the company's stock valued at $21,919,000 after acquiring an additional 6,540 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new stake in DoorDash in the first quarter valued at $790,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Performance

NASDAQ:DASH traded down $4.55 during mid-day trading on Wednesday, hitting $243.82. 6,571,412 shares of the stock were exchanged, compared to its average volume of 4,747,383. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The firm's 50-day simple moving average is $241.27 and its 200 day simple moving average is $209.95. The stock has a market capitalization of $104.16 billion, a price-to-earnings ratio of 135.46 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash's revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.38) earnings per share. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. UBS Group boosted their price target on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Truist Financial upped their price target on shares of DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Morgan Stanley boosted their price target on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Sanford C. Bernstein boosted their target price on shares of DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $263.88.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Prabir Adarkar sold 62,267 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 688,999 shares of company stock valued at $163,218,226 over the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

About DoorDash

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.