Louisiana State Employees Retirement System Buys 18,600 Shares of DoorDash, Inc. (NASDAQ:DASH)

Louisiana State Employees Retirement System grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 65.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,000 shares of the company's stock after buying an additional 18,600 shares during the quarter. Louisiana State Employees Retirement System's holdings in DoorDash were worth $8,590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. Norges Bank acquired a new position in shares of DoorDash in the fourth quarter worth about $597,443,000. Capital World Investors boosted its holdings in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after purchasing an additional 1,869,866 shares during the period. Franklin Resources Inc. boosted its holdings in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after purchasing an additional 949,414 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of DoorDash by 46.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock worth $422,036,000 after purchasing an additional 800,322 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer owned 520,450 shares of the company's stock, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 62,267 shares of the business's stock in a transaction on 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 transaction, the chief operating officer directly owned 942,554 shares in the company, valued at $191,027,419.18. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 429,031 shares of company stock valued at $94,584,086 in the last three months. 5.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on DASH. Roth Capital raised their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday. Oppenheimer raised their price target on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. Benchmark raised 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. JPMorgan Chase & Co. decreased their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $260.00 price target (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $225.94.

DoorDash Stock Down 1.0%

Shares of NASDAQ:DASH traded down $2.27 during trading on Wednesday, reaching $234.50. The stock had a trading volume of 2,613,136 shares, compared to its average volume of 4,223,315. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $248.74. The firm has a market capitalization of $99.37 billion, a price-to-earnings ratio of 304.55 and a beta of 1.70. The stock has a fifty day simple moving average of $219.58 and a two-hundred day simple moving average of $197.44.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm posted ($0.06) earnings per share. The company's quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

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.