Ashe Capital Management LP Takes Position in DoorDash, Inc. $DASH

Ashe Capital Management LP bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 267,000 shares of the company’s stock, valued at approximately $40,090,000. DoorDash comprises approximately 5.0% of Ashe Capital Management LP’s holdings, making the stock its 7th biggest holding. Ashe Capital Management LP owned about 0.06% of DoorDash as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its position in DoorDash by 707.8% during the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after purchasing an additional 221,985 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in DoorDash during the 4th quarter worth about $41,712,000. Nomura Asset Management Co. Ltd. grew its position in shares of DoorDash by 9.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock valued at $35,548,000 after buying an additional 13,121 shares during the last quarter. Allstate Corp grew its position in shares of DoorDash by 116.7% in the 4th quarter. Allstate Corp now owns 29,227 shares of the company’s stock valued at $6,619,000 after buying an additional 15,741 shares during the last quarter. Finally, Brighton Jones LLC increased its stake in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Trading Up 1.8%

Shares of DASH stock opened at $172.91 on Friday. The company has a market cap of $75.34 billion, a P/E ratio of 82.34 and a beta of 1.78. The stock has a 50 day simple moving average of $172.22 and a two-hundred day simple moving average of $176.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. 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 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.58% and a net margin of 6.29%.The company’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. Research analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Argus set a $190.00 target price on DoorDash in a report on Thursday, June 11th. UBS Group increased their target price on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal 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, Director Stanley Tang sold 23,125 shares of the firm’s stock in a transaction 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 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 over the last ninety days. 5.83% of the stock is owned by corporate insiders.

DoorDash 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.