DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Employees Retirement System of Texas

Employees Retirement System of Texas raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,529 shares of the company's stock after acquiring an additional 8,577 shares during the period. Employees Retirement System of Texas' holdings in DoorDash were worth $7,973,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $813,000. Polar Asset Management Partners Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $2,952,000. Challenger Wealth Management acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $252,000. American Trust acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $201,000. Finally, Mackenzie Financial Corp grew its holdings in shares of DoorDash by 751.2% in the fourth quarter. Mackenzie Financial Corp now owns 159,461 shares of the company's stock valued at $26,750,000 after purchasing an additional 140,728 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Up 0.8%

DASH stock traded up $1.56 on Friday, hitting $206.14. The company's stock had a trading volume of 4,853,384 shares, compared to its average volume of 4,206,465. The firm has a 50 day moving average of $189.04 and a two-hundred day moving average of $184.90. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The stock has a market cap of $87.35 billion, a price-to-earnings ratio of 763.48 and a beta of 1.68.

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, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. DoorDash's revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 20,000 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the transaction, the chief operating officer now directly owns 887,348 shares of the company's stock, valued at $164,674,041.84. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 14,715 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the transaction, the chief financial officer now directly owns 338,055 shares in the company, valued at approximately $66,434,568.60. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,736 shares of company stock valued at $43,334,336. 5.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DASH. Citigroup restated an "outperform" rating on shares of DoorDash in a report on Monday, April 28th. Loop Capital boosted their price target on shares of DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, February 24th. The Goldman Sachs Group boosted their price target on shares of DoorDash from $192.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Benchmark boosted their price target on shares of DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Susquehanna boosted their price target on shares of DoorDash from $180.00 to $235.00 and gave the stock a "positive" rating in a report on Thursday, February 13th. Eleven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $209.97.

About DoorDash

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.