DoorDash, Inc. (NASDAQ:DASH) is Tremblant Capital Group’s 7th Largest Position

Tremblant Capital Group lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 22.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 233,279 shares of the company’s stock after selling 67,153 shares during the period. DoorDash makes up approximately 4.1% of Tremblant Capital Group’s investment portfolio, making the stock its 7th largest position. Tremblant Capital Group owned 0.06% of DoorDash worth $39,133,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Pittenger & Anderson Inc. purchased a new position in DoorDash in the 4th quarter valued at approximately $29,000. Denver PWM LLC purchased a new position in DoorDash in the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash in the 4th quarter valued at approximately $34,000. IFP Advisors Inc boosted its position in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after buying an additional 54 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $202.00 on Monday. The firm’s 50-day moving average is $186.03 and its two-hundred day moving average is $182.51. The company has a market capitalization of $84.86 billion, a PE ratio of 748.15 and a beta of 1.68. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) earnings per share. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. JMP Securities restated a “market outperform” rating and issued a $225.00 price objective on shares of DoorDash in a report on Monday, April 28th. Barclays raised their price objective on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Needham & Company LLC raised their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Piper Sandler restated a “neutral” rating and issued a $210.00 price objective (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.97.

Insider Activity

In other news, General Counsel Tia Sherringham sold 12,088 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the sale, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. This represents a 9.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 1,398 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the sale, the director now owns 14,778 shares in the company, valued at $3,006,584.10. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,573 shares of company stock worth $30,407,073 over the last ninety days. 5.83% of the stock is currently owned by 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.