WINTON GROUP Ltd Invests $15.29 Million in DoorDash, Inc. $DASH

Key Points

• WINTON GROUP Ltd opened a new position in DoorDash during the fourth quarter, buying 67,497 shares worth about $15.29 million. The stake represents roughly 0.5% of its portfolio and is its 26th largest holding.
• DoorDash reported stronger-than-expected quarterly earnings, with EPS of $0.42 versus estimates of $0.36, while revenue rose 33.1% year over year to $4.04 billion. However, revenue still came in slightly below analyst expectations.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $259.58. Recent insider sales and the stock’s drop to $156.80 reflect mixed sentiment despite the upbeat ratings.

WINTON GROUP Ltd acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 67,497 shares of the company's stock, valued at approximately $15,287,000. DoorDash makes up approximately 0.5% of WINTON GROUP Ltd's investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of DoorDash by 23.0% during the 4th quarter. Parallel Advisors LLC now owns 6,938 shares of the company's stock worth $1,571,000 after purchasing an additional 1,297 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in DoorDash by 6.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,209 shares of the company's stock worth $274,000 after acquiring an additional 73 shares during the period. Harvest Fund Management Co. Ltd grew its stake in DoorDash by 8.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 34,497 shares of the company's stock worth $7,813,000 after acquiring an additional 2,794 shares during the period. J.W. Cole Advisors Inc. grew its stake in DoorDash by 38.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 1,170 shares of the company's stock worth $265,000 after acquiring an additional 323 shares during the period. Finally, Prudential PLC grew its stake in DoorDash by 3.8% in the 4th quarter. Prudential PLC now owns 26,072 shares of the company's stock worth $5,905,000 after acquiring an additional 945 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 2.0%

Shares of DASH opened at $156.80 on Friday. The firm has a market cap of $68.32 billion, a PE ratio of 74.67 and a beta of 1.83. The company's fifty day moving average is $162.40 and its two-hundred day moving average is $185.84. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

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. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash's revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. Analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $265.00 target price on shares of DoorDash in a research note on Thursday, May 7th. The Goldman Sachs Group set a $280.00 target price on shares of DoorDash in a research note on Thursday, May 7th. Wells Fargo & Company lifted their target price on shares of DoorDash from $198.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. KeyCorp lifted their target price on shares of DoorDash from $275.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday, February 19th. Finally, Mizuho lowered their target price on shares of DoorDash from $320.00 to $255.00 and set an "outperform" rating for the company in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned 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 target price of $259.58.

Insider Buying and Selling

In other DoorDash news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the transaction, the general counsel owned 128,216 shares in the company, valued at $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 is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the transaction, the director owned 31,002 shares in the company, valued at approximately $5,475,263.22. This trade represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 69,808 shares of company stock worth $11,135,403 over the last 90 days. Company insiders own 5.83% of the company's stock.

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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