New York State Teachers Retirement System Has $44.02 Million Stock Holdings in DoorDash, Inc. $DASH

Key Points

• New York State Teachers Retirement System trimmed its DoorDash position by 2.7% in the first quarter, though it still held 293,193 shares valued at about $44.0 million.
• DoorDash reported Q1 EPS of $0.42, beating estimates, while revenue rose 33.1% year over year to $4.04 billion, slightly below Wall Street expectations.
• Insiders have been selling shares recently, including Director Shona L. Brown and COO Prabir Adarkar, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $256.11.

New York State Teachers Retirement System decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,193 shares of the company's stock after selling 8,076 shares during the quarter. New York State Teachers Retirement System owned 0.07% of DoorDash worth $44,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Intech Investment Management LLC grew its position in DoorDash by 707.8% during the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company's stock valued at $57,378,000 after purchasing an additional 221,985 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in DoorDash in the 4th quarter valued at approximately $41,712,000. Nomura Asset Management Co. Ltd. lifted its position in DoorDash by 9.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company's stock worth $35,548,000 after buying an additional 13,121 shares in the last quarter. Jefferies Financial Group Inc. lifted its position in DoorDash by 136.6% in the 3rd quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company's stock worth $11,520,000 after buying an additional 24,454 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after buying an additional 1,807 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Price Performance

DoorDash stock opened at $192.01 on Friday. The company has a market capitalization of $83.66 billion, a P/E ratio of 91.43 and a beta of 1.78. The firm's fifty day simple moving average is $165.99 and its 200-day simple moving average is $180.55. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

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, topping analysts' consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash's revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 582 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the sale, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 42,707 shares of company stock valued at $7,113,039. 5.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on DASH. Wells Fargo & Company boosted their price target on shares of DoorDash from $198.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a report on Thursday, May 7th. Moffett Nathanson set a $276.00 price objective on DoorDash in a research report on Wednesday, April 15th. Piper Sandler lowered their target price on DoorDash from $220.00 to $205.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Finally, UBS Group upped their target price on DoorDash from $206.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $256.11.

DoorDash Profile

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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