Strs Ohio Has $14.42 Million Stake in DoorDash, Inc. $DASH

Key Points

• Strs Ohio increased its DoorDash stake by 18.1% in Q1, buying 14,731 more shares and bringing its total holding to 96,037 shares worth about $14.42 million.
• Analysts remain broadly positive on DoorDash despite recent target cuts, with a consensus rating of “Moderate Buy” and an average price target of $256.11.
• DoorDash reported Q1 EPS of $0.42, topping estimates, while revenue rose 33.1% year over year to $4.04 billion; however, the revenue figure came in slightly below expectations.

Strs Ohio lifted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 18.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,037 shares of the company's stock after purchasing an additional 14,731 shares during the quarter. Strs Ohio's holdings in DoorDash were worth $14,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in DoorDash in the 4th quarter valued at approximately $1,093,650,000. Wellington Management Group LLP boosted its stake in shares of DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock valued at $1,241,494,000 after buying an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock valued at $3,161,234,000 after buying an additional 3,447,754 shares during the period. Coatue Management LLC grew its holdings in shares of DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock valued at $988,668,000 after acquiring an additional 1,910,488 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of DoorDash in the fourth quarter worth $372,128,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DASH has been the subject of several recent research reports. Susquehanna cut their price objective on DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a report on Friday, May 8th. TD Cowen started coverage on DoorDash in a research report on Monday, April 27th. They issued a "buy" rating and a $225.00 target price on the stock. Stifel Nicolaus cut their price target on DoorDash from $215.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 13th. BTIG Research reduced their price target on DoorDash from $280.00 to $225.00 and set a "buy" rating for the company in a report on Friday, June 12th. Finally, Zacks Research raised DoorDash from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average price target of $256.11.

DoorDash Price Performance

DoorDash stock opened at $192.01 on Friday. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week 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 cap of $83.66 billion, a price-to-earnings ratio of 91.43 and a beta of 1.78. The firm has a fifty day moving average price of $165.99 and a two-hundred day moving average price of $180.55.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, analysts forecast that DoorDash, Inc. will post 2.41 earnings per share for the current year.

Insider Activity at DoorDash

In other news, insider Keith Yandell sold 2,643 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the sale, the insider directly owned 81,106 shares of the company's stock, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 21,739 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 42,707 shares of company stock valued at $7,113,039. 5.83% of the stock is owned by corporate 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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