New Mexico Educational Retirement Board Invests $2.83 Million in DoorDash, Inc. (NASDAQ:DASH)

New Mexico Educational Retirement Board bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,500 shares of the company's stock, valued at approximately $2,833,000.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC raised its stake in DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC boosted its holdings in DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its stake in shares of DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after acquiring an additional 180 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in shares of DoorDash during the 1st quarter worth approximately $56,000. Finally, Larson Financial Group LLC raised its position in shares of DoorDash by 695.6% during the 4th quarter. Larson Financial Group LLC now owns 358 shares of the company's stock worth $60,000 after purchasing an additional 313 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the sale, the director owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 44,244 shares of the business's 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 transaction, the chief executive officer owned 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is owned by insiders.

DoorDash Trading Up 0.9%

Shares of DASH stock traded up $2.20 on Friday, hitting $240.44. The stock had a trading volume of 2,842,802 shares, compared to its average volume of 4,238,349. The company has a fifty day moving average price of $216.76 and a two-hundred day moving average price of $196.39. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $248.74. The firm has a market cap of $101.88 billion, a P/E ratio of 312.26 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. UBS Group decreased their price objective on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of DoorDash in a report on Thursday, June 12th. Finally, Roth Capital set a $191.00 target price on shares of DoorDash and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $220.53.

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.