Kentucky Retirement Systems Takes $4.41 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Kentucky Retirement Systems bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 24,135 shares of the company's stock, valued at approximately $4,411,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of DoorDash by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company's stock valued at $15,665,000 after purchasing an additional 2,596 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of DoorDash by 36.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock valued at $323,000 after purchasing an additional 512 shares in the last quarter. Truist Financial Corp boosted its stake in shares of DoorDash by 35.1% in the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company's stock valued at $1,442,000 after purchasing an additional 2,233 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of DoorDash by 26.9% in the 4th quarter. Allworth Financial LP now owns 840 shares of the company's stock valued at $149,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Price Performance

Shares of DASH stock opened at $220.46 on Monday. The stock has a market cap of $93.42 billion, a PE ratio of 286.32 and a beta of 1.67. The stock has a 50-day moving average of $200.53 and a 200-day moving average of $189.43. DoorDash, Inc. has a one year low of $99.32 and a one year high of $223.81.

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

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director now directly owns 22,545 shares in the company, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the transaction, the chief executive officer now owns 520,450 shares of the company's stock, valued at $114,868,519.50. This represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,559 shares of company stock valued at $66,306,707 in the last ninety days. 5.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DASH has been the topic of several recent analyst reports. Benchmark boosted their target price on shares of DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. Wells Fargo & Company reduced their price target on shares of DoorDash from $201.00 to $198.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC upped their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, UBS Group reduced their price target on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.21.

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.

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