Arrow Capital Management LLC Trims Stake in DoorDash, Inc. $DASH

Arrow Capital Management LLC reduced its holdings in DoorDash, Inc. (NASDAQ:DASH) by 20.2% during the first quarter, Holdings Channel.com reports. The fund owned 19,390 shares of the company’s stock after selling 4,915 shares during the quarter. DoorDash accounts for 2.0% of Arrow Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Arrow Capital Management LLC’s holdings in DoorDash were worth $2,911,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after buying an additional 303 shares in the last quarter. Empowered Funds LLC grew its position in DoorDash by 3.6% in the first quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after acquiring an additional 285 shares in the last quarter. Sivia Capital Partners LLC increased its stake in DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in DoorDash during the second quarter worth about $222,000. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Down 4.5%

DoorDash stock opened at $169.77 on Friday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The business’s fifty day moving average is $171.94 and its 200 day moving average is $176.06. The stock has a market capitalization of $73.97 billion, a PE ratio of 80.84 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 (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, sell-side analysts predict that DoorDash, Inc. will post 2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research note on Tuesday, June 23rd. Moffett Nathanson set a $276.00 target price on DoorDash in a research note on Wednesday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group boosted their target price on DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 19,095 shares of DoorDash stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the sale, the chief operating officer owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This represents a 2.22% 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. Insiders have sold a total of 74,927 shares of company stock valued at $13,241,532 in the last ninety days. Corporate insiders own 5.83% of the company’s stock.

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.