Maverick Capital Ltd. Has $67.74 Million Stake in DoorDash, Inc. $DASH

Key Points

• Maverick Capital Ltd. reduced its stake in DoorDash, Inc. by 49.5%, now holding 370,650 shares valued at approximately $67.74 million.
• Institutional and hedge fund activity around DoorDash increased, with several firms like Saudi Central Bank and ORG Partners LLC acquiring new stakes or significantly raising their holdings in the company.
• DoorDash's stock received positive analyst ratings, with a consensus rating of "Moderate Buy" and an average price target of $263.88, following recent upgrades from multiple research analysts.

Maverick Capital Ltd. reduced its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 49.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,650 shares of the company's stock after selling 363,024 shares during the period. Maverick Capital Ltd. owned about 0.09% of DoorDash worth $67,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Saudi Central Bank acquired a new stake in shares of DoorDash in the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in DoorDash in the 1st quarter valued at approximately $26,000. Harbour Investments Inc. raised its holdings in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after buying an additional 70 shares during the last quarter. SouthState Corp raised its holdings in DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after buying an additional 183 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after buying an additional 202 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wedbush reiterated a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. BTIG Research raised their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Sanford C. Bernstein raised their price target on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Roth Capital raised their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $263.88.

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the sale, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. The trade was a 63.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the sale, the director owned 22,545 shares in the company, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 887,533 shares of company stock valued at $215,154,500 over the last quarter. 5.83% of the stock is owned by insiders.

DoorDash Stock Performance

NASDAQ:DASH opened at $245.25 on Monday. The company has a fifty day moving average of $245.52 and a 200-day moving average of $212.84. DoorDash, Inc. has a twelve month low of $122.32 and a twelve month high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $104.77 billion, a P/E ratio of 136.25 and a beta of 1.70.

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

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.

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