Maverick Capital Ltd. Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

Maverick Capital Ltd. increased its position in DoorDash, Inc. (NASDAQ:DASH) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 986,557 shares of the company’s stock after purchasing an additional 67,129 shares during the quarter. DoorDash makes up about 2.7% of Maverick Capital Ltd.’s investment portfolio, making the stock its 11th largest holding. Maverick Capital Ltd. owned about 0.24% of DoorDash worth $140,811,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. boosted its holdings in shares of DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after buying an additional 10,755 shares in the last quarter. Marshall Wace LLP boosted its position in shares of DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden grew its stake in shares of DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares during the last quarter. Baillie Gifford & Co. increased its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Finally, CWM LLC raised its stake in DoorDash by 97.1% during the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold a total of 654,596 shares of company stock worth $104,128,585 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on DASH. The Goldman Sachs Group increased their target price on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research report on Wednesday, September 25th. Evercore ISI raised their price objective on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Oppenheimer increased their price target on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.06.

DoorDash Trading Up 1.1 %

NASDAQ DASH opened at $180.48 on Friday. DoorDash, Inc. has a 12 month low of $92.58 and a 12 month high of $181.30. The stock has a market cap of $74.97 billion, a PE ratio of -401.07, a P/E/G ratio of 13.72 and a beta of 1.67. The stock’s 50 day moving average is $157.29 and its 200 day moving average is $130.64.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, analysts forecast that DoorDash, Inc. will post 0.26 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.