Arrow Capital Management LLC Has $2.91 Million Position in DoorDash, Inc. $DASH

Arrow Capital Management LLC decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 20.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,390 shares of the company’s stock after selling 4,915 shares during the quarter. DoorDash makes up 2.0% of Arrow Capital Management LLC’s holdings, making the stock its 15th biggest position. Arrow Capital Management LLC’s holdings in DoorDash were worth $2,911,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. MV Capital Management Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $26,000. Eastern Bank increased its position in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. raised its stake in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Swiss RE Ltd. bought a new stake in shares of DoorDash in the fourth quarter valued at approximately $28,000. Finally, ST Germain D J Co. Inc. acquired a new position in DoorDash in the 4th quarter valued at $29,000. 90.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup restated a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. Wedbush assumed coverage on shares of DoorDash in a report on Thursday, July 16th. They issued a “neutral” rating and a $205.00 target price for the company. UBS Group raised their price target on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. DA Davidson lowered their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, Jefferies Financial Group increased their price target on DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 DoorDash stock in a transaction 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 completion of 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. Insiders have sold 74,927 shares of company stock worth $13,241,532 in the last three months. Corporate insiders own 5.83% of the company’s stock.

DoorDash Trading Down 4.5%

NASDAQ DASH opened at $169.77 on Friday. The firm has a market capitalization of $73.97 billion, a P/E ratio of 80.84 and a beta of 1.78. 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 business has a fifty day simple moving average of $171.94 and a 200 day simple moving average of $176.06. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month 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, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the business posted $0.44 earnings per share. DoorDash’s revenue was up 33.1% on a year-over-year basis. On average, analysts predict that DoorDash, Inc. will post 2.39 EPS for the current fiscal 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.