Pinnbrook Capital Management LP Sells 12,202 Shares of DoorDash, Inc. $DASH

Pinnbrook Capital Management LP lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 65.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,396 shares of the company’s stock after selling 12,202 shares during the quarter. Pinnbrook Capital Management LP’s holdings in DoorDash were worth $1,449,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of DoorDash by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. State Street Corp lifted its position in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after purchasing an additional 909,125 shares in the last quarter. Capital World Investors increased its position in shares of DoorDash by 0.9% during the 3rd quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock worth $2,955,424,000 after purchasing an additional 95,278 shares during the last quarter. Invesco Ltd. increased its position in shares of DoorDash by 18.2% during the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after purchasing an additional 980,148 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of DoorDash by 3.0% during the 3rd quarter. Northern Trust Corp now owns 3,348,168 shares of the company’s stock worth $910,668,000 after purchasing an additional 96,012 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DASH shares. KeyCorp increased their price objective on DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. TD Cowen began coverage on shares of DoorDash in a research report on Monday, April 27th. They set a “buy” rating and a $225.00 price target on the stock. Benchmark upped their price target on shares of DoorDash from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Susquehanna dropped their price target on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a research report on Friday, May 8th. Finally, Oppenheimer dropped their price target on shares of DoorDash from $280.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.58.

Insider Activity

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the transaction, the director directly owned 31,002 shares of the company’s stock, valued at $5,475,263.22. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the transaction, the director directly owned 19,279 shares in the company, valued at $2,891,850. The trade was a 52.65% 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 42,683 shares of company stock valued at $6,908,813 over the last ninety days. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Performance

NASDAQ DASH opened at $159.27 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $163.15 and its two-hundred day moving average price is $189.85. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The firm has a market capitalization of $69.40 billion, a P/E ratio of 75.84 and a beta of 1.87.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 2.45 EPS for the current year.

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.