Oregon Public Employees Retirement Fund Buys Shares of 29,100 DoorDash, Inc. (NASDAQ:DASH)

Oregon Public Employees Retirement Fund purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,100 shares of the company's stock, valued at approximately $5,319,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in DoorDash by 47.2% in the first quarter. Teacher Retirement System of Texas now owns 67,555 shares of the company's stock valued at $12,347,000 after purchasing an additional 21,663 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of DoorDash by 21.2% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,939 shares of the company's stock valued at $537,000 after buying an additional 514 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of DoorDash by 13.6% in the first quarter. Summit Trail Advisors LLC now owns 46,835 shares of the company's stock valued at $8,560,000 after buying an additional 5,618 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of DoorDash by 42.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,822 shares of the company's stock worth $7,644,000 after acquiring an additional 12,505 shares during the last quarter. Finally, Smith Group Asset Management LLC raised its position in shares of DoorDash by 50.2% during the first quarter. Smith Group Asset Management LLC now owns 3,290 shares of the company's stock worth $601,000 after acquiring an additional 1,100 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Needham & Company LLC upped their target price on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley reduced their price objective on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. JMP Securities lifted their target price on shares of DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research note on Thursday, June 12th. Cantor Fitzgerald restated an "overweight" rating and issued a $260.00 target price (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. Ten 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. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $219.32.

DoorDash Price Performance

NASDAQ DASH opened at $238.76 on Friday. The company has a fifty day moving average price of $210.94 and a 200-day moving average price of $193.08. The firm has a market cap of $101.17 billion, a price-to-earnings ratio of 310.08 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $248.74.

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

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 20,000 shares of DoorDash stock in a transaction on Monday, June 30th. The stock was sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the sale, the chief financial officer directly owned 245,530 shares in the company, valued at $60,645,910. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at $5,425,679.70. This trade represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 427,781 shares of company stock valued at $94,277,848 in the last ninety days. Insiders own 5.83% of the company's stock.

About DoorDash

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.

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