Arizona State Retirement System Grows Position in DoorDash, Inc. (NASDAQ:DASH)

Arizona State Retirement System lifted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,939 shares of the company's stock after buying an additional 14,792 shares during the period. Arizona State Retirement System's holdings in DoorDash were worth $18,814,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC boosted its position in DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in DoorDash by 5.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock worth $279,000 after purchasing an additional 86 shares during the last quarter. LVW Advisors LLC boosted its position in DoorDash by 6.1% in the first quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock worth $273,000 after purchasing an additional 86 shares during the last quarter. CVA Family Office LLC boosted its position in DoorDash by 12.7% in the first quarter. CVA Family Office LLC now owns 774 shares of the company's stock worth $141,000 after purchasing an additional 87 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in DoorDash by 4.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 2,315 shares of the company's stock worth $388,000 after purchasing an additional 105 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In related news, COO Prabir Adarkar sold 62,267 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the sale, the chief operating officer directly owned 942,554 shares of the company's stock, valued at $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 20,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the sale, the chief financial officer directly owned 245,530 shares in the company, valued at approximately $60,645,910. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on DASH shares. Stifel Nicolaus set a $198.00 target price on DoorDash and gave the stock a "hold" rating in a research report on Tuesday, June 10th. Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. BTIG Research lifted their price objective on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Benchmark lifted their price objective on DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, DA Davidson lifted their price objective on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $220.53.

DoorDash Stock Up 0.9%

Shares of NASDAQ:DASH opened at $240.44 on Friday. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $248.74. The stock has a market cap of $101.88 billion, a price-to-earnings ratio of 312.26 and a beta of 1.70. The business has a 50-day moving average price of $216.76 and a 200-day moving average price of $196.21.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period last year, the business posted ($0.06) earnings per share. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.

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