Twinbeech Capital LP Reduces Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Twinbeech Capital LP lowered its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 78.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,228 shares of the company's stock after selling 8,055 shares during the period. Twinbeech Capital LP's holdings in DoorDash were worth $374,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DASH. Tybourne Capital Management HK Ltd. boosted its position in shares of DoorDash by 1,131.8% in the 4th quarter. Tybourne Capital Management HK Ltd. now owns 148,922 shares of the company's stock valued at $24,982,000 after purchasing an additional 136,832 shares during the period. Tidal Investments LLC lifted its holdings in DoorDash by 74.1% in the 4th quarter. Tidal Investments LLC now owns 21,447 shares of the company's stock worth $3,598,000 after purchasing an additional 9,126 shares during the last quarter. State of Wyoming acquired a new stake in DoorDash in the 4th quarter worth approximately $187,000. Snowden Capital Advisors LLC acquired a new stake in DoorDash in the 4th quarter worth approximately $251,000. Finally, Shellback Capital LP bought a new position in DoorDash in the 4th quarter worth approximately $8,388,000. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of DASH stock traded up $2.79 during mid-day trading on Wednesday, hitting $207.68. The company's stock had a trading volume of 3,115,056 shares, compared to its average volume of 4,192,823. The stock has a market cap of $88.00 billion, a price-to-earnings ratio of 769.19 and a beta of 1.68. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The business has a 50-day moving average price of $188.48 and a 200 day moving average price of $184.34.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The firm's revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. Equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp lowered their price objective on DoorDash from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. FBN Securities assumed coverage on DoorDash in a research note on Friday, March 28th. They set an "outperform" rating and a $230.00 price target on the stock. Truist Financial increased their price target on shares of DoorDash from $217.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. BMO Capital Markets reaffirmed an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group raised their price target on DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $209.97.

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 20,000 shares of DoorDash stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $184.85, for a total value of $3,697,000.00. Following the completion of the transaction, the chief operating officer now owns 887,348 shares in the company, valued at $164,026,277.80. The trade was a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This trade represents a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,612 shares of company stock worth $18,808,326 in the last ninety days. 5.83% of the stock is owned by company insiders.

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.