Top 5 Stock Picks of Christopher Lyle’s SCGE Management

4. DoorDash, Inc. (NYSE:DASH)

SCGE Management: $882,442,000
Percentage of SCGE Management’s 13F Portfolio: 8.18%
Number of Hedge Fund Holders: 42

DoorDash, Inc. (NYSE:DASH) is a company that designs, develops, and operates a meal delivery and logistics platform. It serves consumers based in the United States, Canada, and Australia. The hedge fund of Christopher Lyle entered the third quarter of 2021 with 4.28 million shares of DoorDash, Inc. (NYSE:DASH), worth around $882.44 million. The company has featured on Lyle’s portfolio since the fourth quarter of 2020.

In December, JPMorgan analyst Doug Anmuth lowered his price target on DoorDash, Inc. (NYSE:DASH) to $175 from $220 and kept a “Neutral” rating on the shares. The analyst forecasts slower growth as many companies face severe comparisons and work towards normalization.

DoorDash, Inc. (NYSE:DASH) saw a decrease in hedge fund sentiment in Q3 2021. The number of long hedge fund positions reduced to 42 at the end of the third quarter, compared to 45 positions in the previous quarter.