JCP Investment Management LLC Takes $991,000 Position in DoorDash, Inc. $DASH

JCP Investment Management LLC acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,600 shares of the company’s stock, valued at approximately $991,000. DoorDash accounts for about 0.7% of JCP Investment Management LLC’s holdings, making the stock its 19th biggest position.

Several other large investors have also recently made changes to their positions in DASH. Eastern Bank raised its stake in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. MV Capital Management Inc. bought a new position in DoorDash during the 4th quarter valued at about $26,000. Swiss RE Ltd. bought a new position in DoorDash during the fourth quarter valued at approximately $28,000. ST Germain D J Co. Inc. bought a new position in shares of DoorDash during the 4th quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of DoorDash in the fourth quarter worth $32,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on DASH. Moffett Nathanson set a $276.00 target price on DoorDash in a report on Wednesday, April 15th. Weiss Ratings raised DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Rothschild & Co Redburn set a $350.00 price target on DoorDash in a research note on Tuesday, May 12th. Stifel Nicolaus reduced their price target on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Finally, The Goldman Sachs Group set a $280.00 price objective on shares of DoorDash in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Activity

In related news, Director Stanley Tang sold 23,125 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the transaction, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

NASDAQ DASH opened at $172.91 on Monday. The company has a market capitalization of $75.34 billion, a PE ratio of 82.34 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The business’s fifty day moving average is $172.22 and its 200 day moving average is $175.68. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS 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 analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 earnings per share. Sell-side analysts predict that DoorDash, Inc. will post 2.39 earnings per share for the current year.

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.