Maverick Capital Ltd. Buys 67,129 Shares of DoorDash, Inc. (NASDAQ:DASH)

Maverick Capital Ltd. boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 986,557 shares of the company’s stock after buying an additional 67,129 shares during the quarter. DoorDash accounts for approximately 2.7% of Maverick Capital Ltd.’s investment portfolio, making the stock its 11th largest position. Maverick Capital Ltd.’s holdings in DoorDash were worth $140,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. grew its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash during the second quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its stake in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group increased their target price on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised their price target on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Oppenheimer upped their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Barclays lifted their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $166.06.

DoorDash Price Performance

NASDAQ DASH opened at $180.48 on Friday. The company has a market cap of $74.97 billion, a price-to-earnings ratio of -401.07, a PEG ratio of 13.72 and a beta of 1.67. The stock’s fifty day moving average price is $157.29 and its 200 day moving average price is $130.64. DoorDash, Inc. has a 1 year low of $92.58 and a 1 year high of $181.30.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 108,334 shares of DoorDash stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $270,105. The trade was a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Yandell sold 5,509 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total transaction of $970,906.16. Following the sale, the insider now directly owns 118,712 shares in the company, valued at $20,921,802.88. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 654,596 shares of company stock worth $104,128,585 over the last three months. Company insiders own 7.92% of the company’s stock.

DoorDash 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.