Ogborne Capital Management LLC Has $33.97 Million Stake in DoorDash, Inc. $DASH

Key Points

• Ogborne Capital Management boosted its DoorDash stake by 328.6% in Q4, buying 115,000 additional shares to reach 150,000 shares worth about $33.97 million. DoorDash is now 10.7% of the fund’s portfolio and its 5th largest holding.
• DoorDash recently reported Q1 earnings of $0.42 per share, topping analyst estimates of $0.36, while revenue rose 33.1% year over year to $4.04 billion. The company also gave a solid outlook, with analysts expecting full-year EPS of 2.45.
• Analyst sentiment remains positive overall, with DoorDash carrying a Moderate Buy consensus and an average price target of $256.11. However, several firms recently trimmed targets, and insider selling over the past 90 days totaled 68,558 shares.

Ogborne Capital Management LLC increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 328.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the company's stock after buying an additional 115,000 shares during the quarter. DoorDash accounts for 10.7% of Ogborne Capital Management LLC's portfolio, making the stock its 5th largest position. Ogborne Capital Management LLC's holdings in DoorDash were worth $33,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Keel Point LLC grew its stake in shares of DoorDash by 4.3% in the third quarter. Keel Point LLC now owns 1,393 shares of the company's stock worth $379,000 after purchasing an additional 58 shares during the last quarter. Petra Financial Advisors Inc. grew its holdings in shares of DoorDash by 2.2% during the 3rd quarter. Petra Financial Advisors Inc. now owns 2,764 shares of the company's stock worth $752,000 after acquiring an additional 59 shares during the period. CYBER HORNET ETFs LLC raised its position in shares of DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company's stock worth $222,000 after acquiring an additional 60 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of DoorDash by 8.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 843 shares of the company's stock valued at $229,000 after purchasing an additional 63 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company's stock worth $796,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research reports. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a report on Thursday, May 7th. BTIG Research cut their price target on DoorDash from $280.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday. Morgan Stanley reiterated an "overweight" rating and issued a $275.00 price target on shares of DoorDash in a research note on Thursday, February 19th. Citizens Jmp cut their price target on shares of DoorDash from $285.00 to $250.00 and set a "market outperform" rating on the stock in a report on Friday, February 20th. Finally, Citigroup decreased their price objective on shares of DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $256.11.

DoorDash Trading Up 11.6%

Shares of NASDAQ:DASH opened at $168.09 on Tuesday. The stock's 50-day simple moving average is $162.97 and its two-hundred day simple moving average is $183.96. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. 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 stock has a market capitalization of $73.24 billion, a price-to-earnings ratio of 80.04 and a beta of 1.83.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The firm's quarterly revenue was up 33.1% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 2.45 EPS for the current year.

Insider Buying and Selling at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the transaction, the general counsel directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 68,558 shares of company stock worth $10,914,640. 5.83% of the stock is currently owned by insiders.

DoorDash 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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