DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Spyglass Capital Management LLC

Spyglass Capital Management LLC lessened its position in DoorDash, Inc. (NASDAQ:DASH) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,194 shares of the company’s stock after selling 8,514 shares during the period. DoorDash accounts for about 5.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Spyglass Capital Management LLC owned about 0.13% of DoorDash worth $78,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. increased its holdings in DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares in the last quarter. Marshall Wace LLP increased its holdings in DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden increased its holdings in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Baillie Gifford & Co. increased its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Finally, CWM LLC increased its holdings in DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after purchasing an additional 5,273 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $178.44 on Friday. DoorDash, Inc. has a twelve month low of $92.58 and a twelve month high of $181.30. The stock’s 50 day moving average is $156.47 and its 200-day moving average is $130.31.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. As a group, equities analysts predict that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, insider Keith Yandell sold 5,509 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total transaction of $970,906.16. Following the completion of the sale, the insider now directly owns 118,712 shares of the company’s stock, valued at approximately $20,921,802.88. This trade represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 546,262 shares of company stock valued at $84,620,882. 7.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price target on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler increased their price target on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their price target on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $166.06.

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.