DoorDash, Inc. (NASDAQ:DASH) Position Lessened by Tremblant Capital Group

Tremblant Capital Group trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,625 shares of the company’s stock after selling 33,226 shares during the period. DoorDash comprises approximately 3.2% of Tremblant Capital Group’s portfolio, making the stock its 14th biggest holding. Tremblant Capital Group’s holdings in DoorDash were worth $29,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the second quarter worth $32,000. Versant Capital Management Inc raised its holdings in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares in the last quarter. ORG Partners LLC raised its holdings in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Down 0.2 %

Shares of NASDAQ DASH opened at $139.51 on Tuesday. DoorDash, Inc. has a 1-year low of $69.90 and a 1-year high of $143.34. The company has a market cap of $57.05 billion, a PE ratio of -129.18, a P/E/G ratio of 275.59 and a beta of 1.69. The company has a 50-day moving average of $122.05 and a two-hundred day moving average of $121.48.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned ($0.44) EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, September 19th. Wells Fargo & Company raised their price target on shares of DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Susquehanna raised their price target on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, August 5th. Barclays raised their price target on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.00.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 of the company’s stock, valued at approximately $2,355,187.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,057 shares of company stock worth $34,570,133. 7.92% of the stock is currently owned by company 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.