Retirement Systems of Alabama Invests $13.33 Million in DoorDash, Inc. (NASDAQ:DASH)

Retirement Systems of Alabama acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 72,904 shares of the company's stock, valued at approximately $13,325,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GeoWealth Management LLC boosted its holdings in DoorDash by 3.7% in the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after purchasing an additional 51 shares in the last quarter. IFP Advisors Inc raised its stake in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of DoorDash by 5.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock worth $279,000 after purchasing an additional 86 shares during the last quarter. LVW Advisors LLC raised its stake in shares of DoorDash by 6.1% during the first quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock worth $273,000 after purchasing an additional 86 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in shares of DoorDash by 12.7% during the first quarter. CVA Family Office LLC now owns 774 shares of the company's stock worth $141,000 after purchasing an additional 87 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Down 0.1%

DASH opened at $220.46 on Monday. The company has a fifty day simple moving average of $200.53 and a 200 day simple moving average of $189.43. The firm has a market cap of $93.42 billion, a price-to-earnings ratio of 286.32 and a beta of 1.67. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $223.81.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $3.10 billion. During the same period last year, the business earned ($0.06) EPS. The business's revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the transaction, the chief financial officer now directly owns 337,430 shares in the company, valued at approximately $63,173,644.60. This trade represents a 0.42% 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 firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 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. Insiders sold a total of 327,559 shares of company stock valued at $66,306,707 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wedbush restated an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. FBN Securities began coverage on DoorDash in a report on Friday, March 28th. They set an "outperform" rating and a $230.00 price objective on the stock. Morgan Stanley dropped their price objective on DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $210.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $210.21.

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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