Spyglass Capital Management LLC Purchases 100,308 Shares of DoorDash, Inc. $DASH

Spyglass Capital Management LLC increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 33.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 398,484 shares of the company’s stock after buying an additional 100,308 shares during the quarter. DoorDash comprises about 4.0% of Spyglass Capital Management LLC’s portfolio, making the stock its 12th biggest position. Spyglass Capital Management LLC’s holdings in DoorDash were worth $73,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. Integrated Wealth Concepts LLC grew its position in DoorDash by 21.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after purchasing an additional 303 shares during the period. Empowered Funds LLC grew its position in DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after purchasing an additional 285 shares during the period. Sivia Capital Partners LLC increased its stake in DoorDash by 92.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in DoorDash during the 2nd quarter valued at $222,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $231.74 on Tuesday. The company has a market capitalization of $100.41 billion, a PE ratio of 121.33 and a beta of 1.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $200.29 and its 200-day moving average price is $177.07. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 2.45 EPS for the current year.

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 55,289 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the transaction, the chief operating officer owned 930,211 shares in the company, valued at $215,585,701.36. This trade represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 72,367 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $225.16, for a total value of $16,294,153.72. Following the completion of the transaction, the director directly owned 10,361 shares of the company’s stock, valued at $2,332,882.76. The trade was a 87.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 337,674 shares of company stock worth $72,974,540 over the last 90 days. 44.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on DASH. Benchmark dropped their price objective on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Barclays downgraded shares of DoorDash from an “equal weight” rating to a “strong sell” rating in a research report on Monday, August 24th. Wedbush upped their target price on shares of DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research note on Friday, August 7th. Twenty-three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.53.

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.