Steadview Capital Management LLC Decreases Position in DoorDash, Inc. $DASH

Steadview Capital Management LLC decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 24.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,440 shares of the company’s stock after selling 80,675 shares during the quarter. DoorDash accounts for approximately 9.7% of Steadview Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Steadview Capital Management LLC owned 0.06% of DoorDash worth $67,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of DoorDash by 24.0% during the fourth 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 during the last quarter. Integrated Wealth Concepts LLC raised its position in DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock valued at $314,000 after purchasing an additional 303 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of DoorDash by 3.6% during the first quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after purchasing an additional 285 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of 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 buying an additional 2,049 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in DoorDash by 77.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,989 shares of the company’s stock valued at $983,000 after buying an additional 1,746 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DASH shares. DA Davidson reaffirmed a “neutral” rating and set a $260.00 price target on shares of DoorDash in a research note on Thursday, November 6th. Truist Financial raised their target price on DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Guggenheim reaffirmed a “buy” rating and set a $280.00 target price on shares of DoorDash in a report on Wednesday, November 19th. Exane BNP Paribas upgraded DoorDash to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen downgraded DoorDash from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.26.

DoorDash Trading Up 0.6%

Shares of DASH stock opened at $207.65 on Friday. The company has a market cap of $89.50 billion, a P/E ratio of 105.41 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The stock has a 50 day simple moving average of $217.08 and a two-hundred day simple moving average of $239.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04.

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

Insider Buying and Selling

In other news, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $222.33, for a total transaction of $277,912.50. Following the transaction, the director directly owned 33,502 shares of the company’s stock, valued at $7,448,499.66. This represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ravi Inukonda sold 1,017 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total transaction of $218,797.38. Following the sale, the chief financial officer owned 208,412 shares of the company’s stock, valued at $44,837,757.68. This trade represents a 0.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 632,885 shares of company stock worth $133,222,817 over the last 90 days. 5.83% of the stock is owned by company insiders.

DoorDash Company Profile

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.