Fernbridge Capital Management LP Buys 27,271 Shares of DoorDash, Inc. (NASDAQ:DASH)

Fernbridge Capital Management LP lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,007 shares of the company’s stock after buying an additional 27,271 shares during the quarter. DoorDash comprises 2.7% of Fernbridge Capital Management LP’s portfolio, making the stock its 12th largest position. Fernbridge Capital Management LP’s holdings in DoorDash were worth $52,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DASH. Aquatic Capital Management LLC bought a new position in DoorDash in the fourth quarter worth $960,000. Oxford Asset Management LLP bought a new position in shares of DoorDash in the 4th quarter worth about $249,000. Susquehanna Fundamental Investments LLC purchased a new position in DoorDash during the 4th quarter valued at about $10,702,000. Gilder Gagnon Howe & Co. LLC lifted its position in DoorDash by 2.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 18,648 shares of the company’s stock valued at $3,128,000 after acquiring an additional 371 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in DoorDash by 5.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company’s stock worth $279,000 after acquiring an additional 86 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on DASH. KeyCorp decreased their target price on shares of DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Oppenheimer reaffirmed a “hold” rating on shares of DoorDash in a research report on Monday, March 10th. FBN Securities started coverage on DoorDash in a report on Friday, March 28th. They issued an “outperform” rating and a $230.00 target price on the stock. Roth Mkm raised their price target on DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.88.

Insider Activity

In related news, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the sale, the chief financial officer now owns 351,970 shares of the company’s stock, valued at approximately $71,840,596.70. This trade represents a 4.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the sale, the general counsel now directly owns 122,135 shares of the company’s stock, valued at approximately $24,848,365.75. This trade represents a 9.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,086 shares of company stock worth $26,430,884 over the last ninety days. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

DASH opened at $187.76 on Friday. The firm has a market cap of $78.88 billion, a P/E ratio of 695.41 and a beta of 1.69. The company has a 50 day simple moving average of $186.09 and a two-hundred day simple moving average of $177.99. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25.

About DoorDash

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.