Louisiana State Employees Retirement System Buys Shares of 46,000 DoorDash, Inc. $DASH

Key Points

• Louisiana State Employees Retirement System opened a new position in DoorDash during the first quarter, buying 46,000 shares valued at about $6.9 million.
• Institutional interest remains strong overall, with several large investors increasing or initiating stakes and 90.64% of DoorDash shares now held by institutions and hedge funds.
• DoorDash reported 33.1% revenue growth year over year in its latest quarter and beat EPS estimates, while analysts currently rate the stock a Moderate Buy with a consensus price target of $256.11.

Louisiana State Employees Retirement System purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 46,000 shares of the company's stock, valued at approximately $6,907,000.

A number of other large investors also recently modified their holdings of DASH. American Century Companies Inc. lifted its stake in shares of DoorDash by 5.0% in the third quarter. American Century Companies Inc. now owns 485,088 shares of the company's stock valued at $131,941,000 after buying an additional 22,944 shares during the period. Intech Investment Management LLC boosted its position in shares of DoorDash by 707.8% during the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company's stock valued at $57,378,000 after acquiring an additional 221,985 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in DoorDash in the fourth quarter valued at about $41,712,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in DoorDash by 7.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company's stock worth $219,276,000 after purchasing an additional 53,722 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its stake in DoorDash by 136.6% during the third quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company's stock worth $11,520,000 after purchasing an additional 24,454 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched a new conversational shopping assistant for grocery orders, a sign it is expanding its AI-enabled shopping tools and improving the platform’s utility for consumers. DoorDash launches conversational shopping assistant
• Positive Sentiment: Precisely said it is launching a new commercial property imagery product enabled by DoorDash Tasks, highlighting another use case for DoorDash’s logistics and task-based platform beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Positive Sentiment: DoorDash was featured at Cannes Lions in a high-profile UTA ads executive event, which may support brand visibility and advertising relationships. Inside the UTA and DoorDash Ads Executive Soirée at Cannes Lions
• Neutral Sentiment: DoorDash gift cards were highlighted in a Prime Day deals roundup, which may modestly support consumer demand but is not a major company-specific catalyst. I'm heavily considering buying these gift cards on sale for Prime Day
• Negative Sentiment: Multiple news reports described violent or disruptive incidents tied to DoorDash deliveries, including a shooting during a delivery, a carjacking, and a delivery-related dispute. These stories can pressure investor sentiment by raising concerns about driver safety and platform risk. Teens told St. Louis police someone shot at them during a DoorDash delivery
• Negative Sentiment: A separate article said a DoorDash order was used in a scam that drained a customer’s bank account, adding to reputational concerns around the service. The DoorDash Order Was A Setup. The “Support” Call Drained Her Account

DoorDash Stock Down 0.6%

NASDAQ DASH opened at $176.91 on Friday. The firm has a market cap of $77.08 billion, a PE ratio of 84.24 and a beta of 1.83. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The stock's 50 day simple moving average is $165.43 and its 200 day simple moving average is $181.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DASH shares. Mizuho lowered their price objective on DoorDash from $320.00 to $255.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a research note on Tuesday, May 12th. Moffett Nathanson set a $276.00 price objective on DoorDash in a report on Wednesday, April 15th. Finally, Stifel Nicolaus reduced their target price on shares of DoorDash from $215.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $256.11.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 2,643 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the transaction, the insider directly owned 81,106 shares of the company's stock, valued at approximately $12,599,006.04. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,558 shares of company stock worth $9,324,940 in the last 90 days. Corporate insiders own 5.83% of the company's stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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