JCP Investment Management LLC Acquires New Shares in DoorDash, Inc. $DASH

Key Points

• JCP Investment Management acquired 6,600 DoorDash shares worth approximately $991,000 in the first quarter, making DASH its 19th-largest holding. Institutional investors collectively own 90.64% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $252.89, although several firms recently lowered their targets and Zacks Research issued a “Strong Sell” rating.
• DoorDash reported quarterly EPS of $0.42, exceeding estimates of $0.36, while revenue rose 33.1% year over year to $4.04 billion but fell short of expectations. The stock opened at $172.91, well below its 12-month high of $285.50.

JCP Investment Management LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,600 shares of the company's stock, valued at approximately $991,000. DoorDash accounts for about 0.7% of JCP Investment Management LLC's portfolio, making the stock its 19th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Ardmore Road Asset Management LP bought a new position in shares of DoorDash in the first quarter worth $27,477,000. Delta Global Management LP bought a new stake in shares of DoorDash during the 1st quarter valued at $14,844,000. OMERS ADMINISTRATION Corp lifted its holdings in DoorDash by 42.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 13,696 shares of the company's stock worth $2,056,000 after purchasing an additional 4,101 shares in the last quarter. Ashe Capital Management LP purchased a new stake in DoorDash during the 1st quarter worth about $40,090,000. Finally, Dai ichi Life Insurance Company Ltd lifted its holdings in DoorDash by 9.5% during the 1st quarter. Dai ichi Life Insurance Company Ltd now owns 17,749 shares of the company's stock worth $2,665,000 after purchasing an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DASH shares. DA Davidson reduced their target price on DoorDash from $224.00 to $200.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. Needham & Company LLC reissued a "buy" rating and issued a $265.00 price target on shares of DoorDash in a report on Thursday, May 7th. Susquehanna cut their price objective on shares of DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a research report on Friday, May 8th. Zacks Research lowered shares of DoorDash from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Finally, Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and an average target price of $252.89.

DoorDash Stock Performance

Shares of DASH stock opened at $172.91 on Monday. The business has a 50-day moving average price of $172.22 and a two-hundred day moving average price of $175.68. The firm has a market cap of $75.34 billion, a P/E ratio of 82.34 and a beta of 1.78. DoorDash, Inc. has a 12-month low of $143.30 and a 12-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.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. DoorDash's revenue for the quarter was up 33.1% on a year-over-year basis. Equities analysts anticipate that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 23,125 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the sale, the chief financial officer owned 252,443 shares of the company's stock, valued at approximately $47,469,381.72. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,927 shares of company stock worth $13,241,532 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

DoorDash Company 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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