New York State Teachers Retirement System Raises Holdings in DoorDash, Inc. (NASDAQ:DASH)

New York State Teachers Retirement System raised its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1,535.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,745 shares of the company's stock after purchasing an additional 232,592 shares during the period. New York State Teachers Retirement System owned 0.06% of DoorDash worth $45,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in DoorDash by 24.0% in the fourth 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 last quarter. IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of DoorDash by 4.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 6,140 shares of the company's stock valued at $1,030,000 after acquiring an additional 248 shares during the last quarter. Versor Investments LP acquired a new stake in shares of DoorDash during the 4th quarter worth about $369,000. Finally, SVB Wealth LLC purchased a new stake in DoorDash during the fourth quarter worth approximately $1,108,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DASH. Raymond James Financial upgraded shares of DoorDash from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $215.00 to $260.00 in a research report on Monday, June 23rd. Wells Fargo & Company cut 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 note on Wednesday, May 7th. Roth Capital set a $191.00 price objective on shares of DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. Finally, Evercore ISI reissued an "outperform" rating on shares of DoorDash in a report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $219.32.

DoorDash Stock Performance

DoorDash stock traded down $8.50 during midday trading on Tuesday, reaching $238.01. The company's stock had a trading volume of 5,776,716 shares, compared to its average volume of 4,235,950. The firm has a market capitalization of $100.85 billion, a PE ratio of 309.11 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $248.68. The stock's 50 day simple moving average is $207.54 and its 200 day simple moving average is $192.03.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating 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 firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter last year, the business earned ($0.06) earnings per share. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, Director Ashley Still sold 2,495 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $225.00, for a total transaction of $561,375.00. Following the sale, the director directly owned 1,565 shares in the company, valued at approximately $352,125. The trade was a 61.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 520,450 shares in the company, valued at $114,868,519.50. This trade represents a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,142 shares of company stock worth $62,950,920. 5.83% of the stock is currently owned by company insiders.

DoorDash Company 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.