Deltec Asset Management LLC Buys 53,600 Shares of DoorDash, Inc. $DASH

Deltec Asset Management LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 536.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,600 shares of the company’s stock after purchasing an additional 53,600 shares during the quarter. DoorDash makes up 1.8% of Deltec Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Deltec Asset Management LLC’s holdings in DoorDash were worth $9,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in DoorDash by 707.8% during the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after acquiring an additional 221,985 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in DoorDash in the 4th quarter worth $41,712,000. Nomura Asset Management Co. Ltd. raised its position in DoorDash by 9.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock worth $35,548,000 after purchasing an additional 13,121 shares during the period. Jefferies Financial Group Inc. lifted its stake in DoorDash by 136.6% in the third quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company’s stock worth $11,520,000 after purchasing an additional 24,454 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in DoorDash by 24.0% in 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 last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DASH. Moffett Nathanson set a $276.00 target price on DoorDash in a report on Wednesday, April 15th. Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a report on Tuesday, May 12th. Guggenheim reissued a “buy” rating and issued a $255.00 target price on shares of DoorDash in a research note on Tuesday, June 23rd. TD Cowen started coverage on DoorDash in a research note on Monday, April 27th. They issued a “buy” rating and a $225.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on DoorDash from $198.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $256.11.

DoorDash Trading Up 2.4%

NASDAQ:DASH opened at $188.87 on Thursday. The firm has a market capitalization of $82.29 billion, a P/E ratio of 89.94 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company’s 50-day simple moving average is $165.60 and its 200 day simple moving average is $180.72.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, analysts forecast that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 582 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the sale, the director owned 31,156 shares of the company’s stock, valued at $5,516,481.36. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the sale, the chief operating officer owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,707 shares of company stock worth $7,113,039 over the last 90 days. 5.83% of the stock is currently owned by company insiders.

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.