DoorDash, Inc. (NASDAQ:DASH) is Spyglass Capital Management LLC’s 5th Largest Position

Spyglass Capital Management LLC cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 553,194 shares of the company’s stock after selling 8,514 shares during the quarter. DoorDash comprises about 5.2% of Spyglass Capital Management LLC’s holdings, making the stock its 5th largest position. Spyglass Capital Management LLC’s holdings in DoorDash were worth $78,957,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. grew its position in shares of DoorDash by 12.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 3,125 shares of the company’s stock valued at $446,000 after purchasing an additional 354 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of DoorDash by 2.9% in the third quarter. Vinva Investment Management Ltd now owns 13,628 shares of the company’s stock valued at $1,938,000 after purchasing an additional 383 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of DoorDash by 10.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,715,539 shares of the company’s stock valued at $244,859,000 after purchasing an additional 159,449 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of DoorDash by 108.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 73,117 shares of the company’s stock valued at $10,436,000 after purchasing an additional 38,076 shares in the last quarter. Finally, Fernbridge Capital Management LP grew its position in shares of DoorDash by 11.7% in the third quarter. Fernbridge Capital Management LP now owns 282,736 shares of the company’s stock valued at $40,355,000 after purchasing an additional 29,690 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $178.44 on Friday. DoorDash, Inc. has a 1 year low of $92.58 and a 1 year 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business earned ($0.19) EPS. DoorDash’s revenue was up 25.0% compared to the same quarter last year. As a group, analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, insider Keith Yandell sold 5,509 shares of the company’s 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 transaction, the insider now owns 118,712 shares in the company, valued at approximately $20,921,802.88. This represents a 4.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $255,375. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 546,262 shares of company stock worth $84,620,882. Company insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. Bank of America lifted their price target on DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Mizuho lifted their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Needham & Company LLC lifted their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, September 19th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.06.

DoorDash 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.