Durable Capital Partners LP Makes New $38.17 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

Durable Capital Partners LP purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 227,553 shares of the company’s stock, valued at approximately $38,172,000.

A number of other hedge funds have also modified their holdings of DASH. Norges Bank acquired a new position in DoorDash in the fourth quarter valued at about $597,443,000. Capital World Investors lifted its holdings in shares of DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. raised its position in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after purchasing an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in DoorDash during the fourth quarter worth $146,094,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DASH. JPMorgan Chase & Co. cut their price objective on DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Loop Capital upped their price objective on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Evercore ISI reissued an “outperform” rating on shares of DoorDash in a research report on Monday, March 10th. DA Davidson raised their target price on shares of DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Cantor Fitzgerald lowered their price target on shares of DoorDash from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Ten investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $210.91.

DoorDash Trading Down 7.2 %

Shares of DASH opened at $190.54 on Wednesday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The stock has a market cap of $80.04 billion, a P/E ratio of 705.70 and a beta of 1.68. The company has a 50-day moving average of $185.53 and a two-hundred day moving average of $180.23.

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

Insider Activity

In related news, insider Keith Yandell sold 8,116 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the transaction, the insider now directly owns 105,162 shares in the company, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the transaction, the director now directly owns 14,778 shares in the company, valued at approximately $3,006,584.10. This represents a 8.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,573 shares of company stock worth $30,407,073 over the last three months. 7.92% of the stock is currently owned by corporate insiders.

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.