Pinnbrook Capital Management LP Sells 12,202 Shares of DoorDash, Inc. $DASH

Key Points

• Pinnbrook Capital Management LP cut its DoorDash position by 65.6% in the fourth quarter, selling 12,202 shares and leaving it with 6,396 shares worth about $1.45 million.
• DoorDash reported Q1 earnings of $0.42 per share, topping estimates of $0.36, while revenue rose 33.1% year over year to $4.04 billion, slightly below analyst forecasts.
• Insider selling has been notable, including director Stanley Tang and COO Prabir Adarkar; analysts still generally rate the stock Moderate Buy with a consensus price target of $259.58.

Pinnbrook Capital Management LP trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 65.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,396 shares of the company's stock after selling 12,202 shares during the period. Pinnbrook Capital Management LP's holdings in DoorDash were worth $1,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DASH. Physician Wealth Advisors Inc. raised its stake in shares of DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company's stock worth $26,000 after buying an additional 71 shares during the last quarter. Eastern Bank raised its stake in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company's stock worth $26,000 after buying an additional 100 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of DoorDash during the fourth quarter worth approximately $29,000. Sunbelt Securities Inc. raised its stake in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock worth $33,000 after buying an additional 67 shares during the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of DoorDash during the third quarter worth approximately $36,000. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Performance

Shares of DASH opened at $159.27 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The firm's 50 day moving average price is $163.15 and its two-hundred day moving average price is $189.85. The firm has a market cap of $69.40 billion, a P/E ratio of 75.84 and a beta of 1.87.

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

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares of the company's stock, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 10,000 shares of DoorDash stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $188.34, for a total transaction of $1,883,400.00. Following the completion of the transaction, the chief operating officer directly owned 843,678 shares in the company, valued at approximately $158,898,314.52. The trade was a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 42,683 shares of company stock valued at $6,908,813. 5.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DASH has been the subject of a number of analyst reports. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a report on Tuesday, May 12th. Citizens Jmp decreased their price objective on shares of DoorDash from $285.00 to $250.00 and set a "market outperform" rating for the company in a report on Friday, February 20th. Oppenheimer decreased their price objective on shares of DoorDash from $280.00 to $235.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Cantor Fitzgerald decreased their price objective on shares of DoorDash from $285.00 to $230.00 and set an "overweight" rating for the company in a report on Thursday, February 19th. Finally, Moffett Nathanson set a $276.00 price objective on shares of DoorDash in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $259.58.

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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