Motley Fool Asset Management LLC Has $5.32 Million Position in DoorDash, Inc. $DASH

Motley Fool Asset Management LLC grew its stake in DoorDash, Inc. (NASDAQ:DASH) by 10.5% during the second quarter, HoldingsChannel reports. The firm owned 21,589 shares of the company’s stock after buying an additional 2,047 shares during the quarter. Motley Fool Asset Management LLC’s holdings in DoorDash were worth $5,322,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DASH. Night Squared LP acquired a new position in shares of DoorDash during the first quarter worth $2,780,000. Mutual of America Capital Management LLC acquired a new position in DoorDash in the 1st quarter worth about $7,200,000. Public Investment Fund increased its holdings in DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after purchasing an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP increased its holdings in DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in DoorDash in the 1st quarter worth about $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

NASDAQ DASH opened at $263.35 on Tuesday. The company has a market capitalization of $112.50 billion, a price-to-earnings ratio of 146.31 and a beta of 1.71. DoorDash, Inc. has a twelve month low of $152.26 and a twelve month high of $285.50. The stock has a fifty day simple moving average of $259.95 and a 200 day simple moving average of $233.86. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the business posted ($0.38) EPS. The business’s revenue was up 24.9% compared to the same quarter last year. Sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 24,968 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the sale, the chief operating officer directly owned 909,579 shares in the company, valued at approximately $247,696,553.28. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $277.47, for a total value of $346,837.50. Following the sale, the director owned 37,252 shares of the company’s stock, valued at approximately $10,336,312.44. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 928,114 shares of company stock worth $232,553,670. 5.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of recent research reports. BMO Capital Markets upped their target price on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Piper Sandler upped their target price on DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Roth Capital upped their target price on DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Loop Capital reaffirmed a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Finally, Evercore ISI restated an “outperform” rating and issued a $360.00 price objective (up from $240.00) on shares of DoorDash in a report on Friday, August 8th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.82.

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.