Mariner LLC Purchases 364,049 Shares of DoorDash, Inc. $DASH

Key Points

• Mariner LLC significantly increased its DoorDash stake by 225.8% in the fourth quarter, buying 364,049 additional shares and bringing its total holdings to 525,309 shares worth about $119 million.
• Institutional ownership remains very high, with several other hedge funds also boosting positions; overall, institutions own 90.64% of DoorDash shares.
• DoorDash posted stronger-than-expected earnings for the quarter, with EPS of $0.42 topping estimates, while revenue rose 33.1% year over year even though it slightly missed consensus.

Mariner LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 225.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525,309 shares of the company's stock after buying an additional 364,049 shares during the quarter. Mariner LLC owned approximately 0.12% of DoorDash worth $118,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fieldview Capital Management LLC grew its position in shares of DoorDash by 644.8% during the 4th quarter. Fieldview Capital Management LLC now owns 17,079 shares of the company's stock worth $3,868,000 after buying an additional 14,786 shares in the last quarter. Focus Partners Wealth boosted its position in DoorDash by 10.9% during the fourth quarter. Focus Partners Wealth now owns 243,545 shares of the company's stock valued at $55,204,000 after purchasing an additional 23,979 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in DoorDash by 6.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 139,214 shares of the company's stock valued at $31,529,000 after purchasing an additional 8,905 shares in the last quarter. Kids Capital Management L.P. boosted its position in DoorDash by 2.6% during the fourth quarter. Kids Capital Management L.P. now owns 51,800 shares of the company's stock valued at $11,732,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Clear Street Group Inc. bought a new stake in DoorDash during the fourth quarter valued at about $3,076,000. Institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of the firm's 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 completion of the sale, the general counsel owned 128,216 shares of the company's stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the sale, the insider directly owned 81,106 shares of the company's stock, valued at approximately $12,599,006.04. This represents a 3.16% 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. Insiders sold a total of 68,558 shares of company stock worth $10,914,640 in the last three months. Insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $275.00 price objective on shares of DoorDash in a research report on Thursday, February 19th. Moffett Nathanson set a $276.00 price objective on DoorDash in a research report on Wednesday, April 15th. Barclays dropped their price objective on DoorDash from $238.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 19th. Finally, DA Davidson dropped their price objective on DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $256.11.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $168.09 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $73.24 billion, a PE ratio of 80.04 and a beta of 1.83. The business has a 50-day simple moving average of $162.97 and a two-hundred day simple moving average of $183.96. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly 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 business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company's quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities analysts expect that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

About DoorDash

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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