North Dakota State Investment Board Makes New Investment in DoorDash, Inc. $DASH

Key Points

• North Dakota State Investment Board initiated a new position in DoorDash during the fourth quarter, buying 13,105 shares valued at about $2.97 million.
• DoorDash posted strong quarterly results, with EPS of $0.42 beating estimates, while revenue rose 33.1% year over year to $4.04 billion, though it came in slightly below expectations.
• Wall Street remains broadly positive on DASH, with analysts maintaining a Moderate Buy consensus and an average price target of $259.58, even as some executives recently sold shares.

North Dakota State Investment Board bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,105 shares of the company's stock, valued at approximately $2,968,000.

A number of other large investors have also recently bought and sold shares of DASH. American Century Companies Inc. raised its holdings in shares of DoorDash by 5.0% during 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 last quarter. Caprock Group LLC bought a new stake in shares of DoorDash during the third quarter valued at approximately $3,169,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $41,712,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DoorDash by 7.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company's stock valued at $219,276,000 after buying an additional 53,722 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in shares of DoorDash by 136.6% during the third quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company's stock valued at $11,520,000 after buying an additional 24,454 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

NASDAQ DASH opened at $162.67 on Tuesday. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $70.88 billion, a PE ratio of 77.46 and a beta of 1.87. The company's 50 day simple moving average is $164.17 and its 200 day simple moving average is $191.96.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business's revenue for the quarter was up 33.1% on a year-over-year basis. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DASH shares. UBS Group lifted their price target on DoorDash from $206.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Sanford C. Bernstein cut their price target on DoorDash from $285.00 to $270.00 and set an "outperform" rating on the stock in a report on Thursday, February 19th. Citizens Jmp cut their price target on DoorDash from $285.00 to $250.00 and set a "market outperform" rating on the stock in a report on Friday, February 20th. Evercore set a $300.00 price target on DoorDash in a report on Thursday, February 19th. Finally, Zacks Research upgraded shares of DoorDash from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $259.58.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a 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 10,000 shares of DoorDash stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $188.34, for a total transaction of $1,883,400.00. Following the completion of the transaction, the chief operating officer owned 843,678 shares in the company, valued at approximately $158,898,314.52. This trade represents a 1.17% 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 90 days, insiders have sold 42,683 shares of company stock worth $6,908,813. 5.83% of the stock is owned by insiders.

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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