State of Michigan Retirement System Buys New Position in DoorDash, Inc. (NASDAQ:DASH)

State of Michigan Retirement System bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 92,000 shares of the company's stock, valued at approximately $16,815,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its holdings in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC lifted its holdings in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares in the last quarter. Washington Trust Advisors Inc. bought a new position in shares of DoorDash during the 1st quarter valued at about $56,000. Finally, Summit Securities Group LLC acquired a new stake in DoorDash in the 4th quarter valued at approximately $63,000. Institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DASH shares. Roth Capital set a $191.00 target price on DoorDash and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Stifel Nicolaus set a $198.00 price target on DoorDash and gave the stock a "hold" rating in a research report on Tuesday, June 10th. Raymond James Financial raised DoorDash from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $215.00 to $260.00 in a research report on Monday, June 23rd. Finally, Wedbush reissued an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $220.53.

DoorDash Trading Up 0.9%

DASH traded up $2.20 on Friday, reaching $240.44. The stock had a trading volume of 2,842,802 shares, compared to its average volume of 4,234,659. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $248.74. The firm has a 50-day moving average of $216.76 and a 200-day moving average of $196.04. The company has a market capitalization of $101.88 billion, a price-to-earnings ratio of 312.26 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results 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. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer owned 942,554 shares of the company's stock, valued at $191,027,419.18. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the transaction, the director directly owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 429,031 shares of company stock worth $94,584,086. Company 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.