Tremblant Capital Group Trims Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Tremblant Capital Group lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 10.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 273,625 shares of the company’s stock after selling 33,226 shares during the period. DoorDash comprises 3.2% of Tremblant Capital Group’s portfolio, making the stock its 14th largest position. Tremblant Capital Group owned 0.07% of DoorDash worth $29,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DASH. Janus Henderson Group PLC boosted its holdings in DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares during the last quarter. Vanguard Group Inc. boosted its holdings in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. First Trust Advisors LP lifted its holdings in DoorDash by 45.6% during the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock worth $304,490,000 after buying an additional 964,860 shares during the last quarter. 1832 Asset Management L.P. bought a new position in DoorDash during the 4th quarter worth approximately $92,937,000. Finally, Canada Pension Plan Investment Board lifted its holdings in DoorDash by 595.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after buying an additional 763,579 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research analyst reports. Oppenheimer increased their target price on DoorDash from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on DoorDash in a report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price on the stock. Wells Fargo & Company increased their target price on DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, September 19th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.00.

DoorDash Stock Performance

Shares of DASH stock opened at $139.51 on Tuesday. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34. The stock has a market cap of $57.05 billion, a PE ratio of -129.18, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. The business’s fifty day moving average is $122.05 and its 200-day moving average is $121.48.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) earnings per share. Equities research analysts predict that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. Insiders sold a total of 303,057 shares of company stock valued at $34,570,133 in the last three months. 7.92% of the stock is currently owned by corporate insiders.

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.