TenCore Partners LP Sells 17,100 Shares of DoorDash, Inc. $DASH

TenCore Partners LP cut its position in DoorDash, Inc. (NASDAQ:DASH) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,754 shares of the company’s stock after selling 17,100 shares during the period. DoorDash accounts for 6.0% of TenCore Partners LP’s holdings, making the stock its 8th largest position. TenCore Partners LP’s holdings in DoorDash were worth $11,721,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DASH. Norges Bank acquired a new stake in shares of DoorDash in the fourth quarter worth approximately $1,093,650,000. Vanguard Group Inc. boosted its stake in shares of DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after acquiring an additional 1,522,823 shares during the last quarter. Scge Management L.P. acquired a new stake in shares of DoorDash in the second quarter worth approximately $267,463,000. Invesco Ltd. boosted its stake in shares of DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after acquiring an additional 980,148 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after acquiring an additional 909,125 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 2,643 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the transaction, the insider owned 81,106 shares of the company’s stock, valued at $12,599,006.04. This represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 69,808 shares of company stock worth $11,135,403. Corporate insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DASH. Oppenheimer lowered their price target on DoorDash from $280.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. KeyCorp lifted their price target on DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Roth Mkm reaffirmed a “neutral” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 19th. Guggenheim lowered their price target on DoorDash from $275.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Finally, Mizuho lowered their price target on DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $259.58.

DoorDash Stock Performance

Shares of DoorDash stock opened at $164.78 on Tuesday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a market cap of $71.80 billion, a price-to-earnings ratio of 78.47 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The business’s 50 day moving average price is $162.32 and its 200 day moving average price is $186.94.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was up 33.1% compared to the same quarter last year. On average, research analysts predict that DoorDash, Inc. will post 2.45 EPS for the current year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.