Ardmore Road Asset Management LP Acquires 21,000 Shares of DoorDash, Inc. $DASH

Ardmore Road Asset Management LP lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 26.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,000 shares of the company’s stock after purchasing an additional 21,000 shares during the period. DoorDash comprises about 2.1% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 18th largest position. Ardmore Road Asset Management LP’s holdings in DoorDash were worth $24,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Night Squared LP bought a new stake in DoorDash during the 1st quarter valued at $2,780,000. Public Investment Fund grew its position in shares of DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock worth $150,125,000 after buying an additional 333,369 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of DoorDash during the first quarter valued at $7,200,000. Junto Capital Management LP bought a new stake in shares of DoorDash in the first quarter valued at about $29,261,000. Finally, Blair William & Co. IL lifted its stake in DoorDash by 12.8% in the first quarter. Blair William & Co. IL now owns 4,855 shares of the company’s stock worth $887,000 after acquiring an additional 551 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research reports. Mizuho cut their target price on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Barclays cut their price objective on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Royal Bank Of Canada lowered their target price on DoorDash from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating in a research report on Wednesday, November 19th. Finally, KeyCorp reissued an “overweight” rating and issued a $280.00 price target on shares of DoorDash in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.62.

DoorDash Trading Up 1.7%

Shares of DoorDash stock opened at $225.00 on Friday. The firm’s 50 day simple moving average is $237.29 and its two-hundred day simple moving average is $238.89. The firm has a market capitalization of $96.98 billion, a price-to-earnings ratio of 114.21 and a beta of 1.72. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the firm earned $0.38 earnings per share. DoorDash’s quarterly revenue was up 27.3% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 25,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $204.95, for a total value of $5,123,750.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alfred Lin acquired 125,000 shares of DoorDash stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average price of $199.01 per share, with a total value of $24,876,250.00. Following the completion of the purchase, the director owned 514,047 shares of the company’s stock, valued at approximately $102,300,493.47. The trade was a 32.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 679,563 shares of company stock worth $152,902,593. 5.83% of the stock is owned by corporate insiders.

DoorDash Company Profile

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.