Spyglass Capital Management LLC Decreases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Spyglass Capital Management LLC trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,239 shares of the company’s stock after selling 6,955 shares during the period. DoorDash accounts for 5.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 4th largest holding. Spyglass Capital Management LLC owned 0.13% of DoorDash worth $91,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB raised its position in shares of DoorDash by 3.3% during the 4th quarter. Swedbank AB now owns 171,055 shares of the company’s stock valued at $28,694,000 after purchasing an additional 5,539 shares during the period. LVW Advisors LLC bought a new stake in shares of DoorDash during the 4th quarter valued at $236,000. Flagship Harbor Advisors LLC bought a new stake in shares of DoorDash during the 4th quarter valued at $240,000. Merit Financial Group LLC bought a new stake in shares of DoorDash during the 4th quarter valued at $503,000. Finally, Principal Financial Group Inc. raised its position in shares of DoorDash by 25.0% during the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock valued at $12,958,000 after purchasing an additional 18,155 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 1,398 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $284,423.10. Following the completion of the sale, the director now directly owns 14,778 shares of the company’s stock, valued at $3,006,584.10. The trade was a 8.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now directly 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 sold a total of 158,573 shares of company stock valued at $30,407,073 in the last three months. Company insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DASH shares. Wedbush restated an “outperform” rating on shares of DoorDash in a research report on Wednesday, May 7th. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Wells Fargo & Company decreased their price target on shares of DoorDash from $201.00 to $198.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. UBS Group decreased their price target on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Needham & Company LLC boosted their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $209.97.

DoorDash Trading Up 2.5%

Shares of NASDAQ:DASH opened at $202.00 on Monday. The company has a market capitalization of $84.86 billion, a price-to-earnings ratio of 748.15 and a beta of 1.68. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The firm’s 50-day moving average is $186.03 and its 200 day moving average is $182.51.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal 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.