State of Alaska Department of Revenue Decreases Stake in DoorDash, Inc. $DASH

Key Points

• The State of Alaska Department of Revenue reduced its holdings in DoorDash, Inc. by 3.0%, owning 38,565 shares valued at approximately $9.5 million after selling 1,190 shares in the second quarter.
• DoorDash reported earnings of $0.65 per share for the last quarter, exceeding expectations, with revenues climbing 24.9% year-over-year to $3.28 billion.
• Wall Street analysts have raised their price targets for DoorDash, with BMO Capital Markets increasing its target from $238 to $288, and Benchmark adjusting its target from $260 to $315, indicating a positive outlook for the company.

State of Alaska Department of Revenue cut its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,565 shares of the company's stock after selling 1,190 shares during the quarter. State of Alaska Department of Revenue's holdings in DoorDash were worth $9,506,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after buying an additional 1,497,636 shares during the period. Invesco Ltd. raised its holdings in shares of DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Nuveen LLC bought a new position in DoorDash during the first quarter valued at about $211,415,000. Finally, Deutsche Bank AG increased its stake in DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after acquiring an additional 1,058,731 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Up 0.1%

DoorDash stock opened at $262.47 on Friday. The firm has a 50-day moving average of $252.74 and a 200-day moving average of $221.19. DoorDash, Inc. has a one year low of $140.53 and a one year high of $278.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market cap of $112.13 billion, a price-to-earnings ratio of 145.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash's revenue was up 24.9% on a year-over-year basis. During the same period last year, the business posted ($0.38) EPS. On average, equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets boosted their target price on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. DA Davidson upped their price objective on DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Benchmark upped their price objective on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Susquehanna upped their price objective on DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a report on Monday, August 11th. Finally, Wedbush reiterated a "neutral" rating on shares of DoorDash in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $271.55.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $266.16, for a total transaction of $379,278.00. Following the transaction, the chief financial officer owned 214,772 shares in the company, valued at approximately $57,163,715.52. This trade represents a 0.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 991,480 shares of company stock valued at $243,387,669. Corporate insiders own 5.83% of the company's stock.

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.

Want to see what other hedge funds are holding DASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoorDash, Inc. (NASDAQ:DASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.