Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 10,280 DoorDash, Inc. (NASDAQ:DASH)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,280 shares of the company's stock, valued at approximately $1,879,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kentucky Retirement Systems purchased a new position in shares of DoorDash in the first quarter worth $4,411,000. Praxis Investment Management Inc. raised its stake in shares of DoorDash by 24.8% in the first quarter. Praxis Investment Management Inc. now owns 10,120 shares of the company's stock worth $1,850,000 after purchasing an additional 2,010 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after purchasing an additional 180 shares during the period. ORG Partners LLC boosted its position in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after buying an additional 202 shares during the last quarter. Finally, Retirement Systems of Alabama acquired a new stake in DoorDash during the 1st quarter valued at approximately $13,325,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Up 2.5%

DASH traded up $5.85 on Tuesday, hitting $236.17. 5,602,193 shares of the company traded hands, compared to its average volume of 4,231,319. The stock has a market capitalization of $100.07 billion, a PE ratio of 306.72 and a beta of 1.67. The company has a 50 day moving average of $202.59 and a 200-day moving average of $190.12. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $238.84.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In related news, CEO Tony Xu sold 44,244 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the sale, the chief executive officer now owns 520,450 shares of the company's stock, valued at $114,868,519.50. This trade represents a 7.84% 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. Also, General Counsel Tia Sherringham sold 7,546 shares of DoorDash stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $204.56, for a total transaction of $1,543,609.76. Following the sale, the general counsel now owns 129,514 shares of the company's stock, valued at approximately $26,493,383.84. This trade represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 327,559 shares of company stock worth $66,306,707. Company insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on DASH. Loop Capital upped their price target on shares of DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, February 24th. Raymond James Financial raised shares of DoorDash from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $215.00 to $260.00 in a research note on Monday. Wells Fargo & Company lowered their price target on shares of DoorDash from $201.00 to $198.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of DoorDash in a research note on Thursday, June 12th. Finally, Stifel Nicolaus set a $198.00 price objective on DoorDash and gave the company a "hold" rating in a report on Tuesday, June 10th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $213.29.

DoorDash 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.