Teacher Retirement System of Texas Acquires 13,393 Shares of DoorDash, Inc. $DASH

Key Points

• Teacher Retirement System of Texas increased its DoorDash stake by 24.2%, acquiring 13,393 shares to hold 68,765 shares valued at about $15.57 million at the end of the quarter.
• Significant insider selling occurred recently: Director Stanley Tang sold 21,433 shares and COO Prabir Adarkar sold 10,000 shares (both under Rule 10b5-1 plans); insiders have sold 89,406 shares worth roughly $16.64 million over the past 90 days and currently own 5.83% of the company.
• DoorDash missed quarterly EPS estimates ($0.48 vs. $0.58) despite 37.7% year-over-year revenue growth, and analysts maintain a Moderate Buy consensus with an average price target of $261.32 (market cap ≈ $76.8B, PE ≈ 83.4).

Teacher Retirement System of Texas lifted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,765 shares of the company's stock after acquiring an additional 13,393 shares during the period. Teacher Retirement System of Texas' holdings in DoorDash were worth $15,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DASH. Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company's stock worth $314,000 after acquiring an additional 303 shares during the period. Empowered Funds LLC boosted its stake in shares of DoorDash by 3.6% in the first quarter. Empowered Funds LLC now owns 8,130 shares of the company's stock worth $1,486,000 after acquiring an additional 285 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company's stock worth $1,049,000 after acquiring an additional 2,049 shares during the period. Finally, Baird Financial Group Inc. bought a new position in shares of DoorDash in the second quarter worth about $222,000. Institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the sale, the director directly owned 19,279 shares in the company, valued at $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 10,000 shares of the company's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the sale, the chief operating officer owned 843,678 shares in the company, valued at approximately $158,898,314.52. This trade represents a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,406 shares of company stock worth $16,639,624 over the last ninety days. Company insiders own 5.83% of the company's stock.

DoorDash Trading Down 0.1%

Shares of DASH stock opened at $176.78 on Friday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 1.41. The stock's 50 day simple moving average is $166.77 and its two-hundred day simple moving average is $202.99. The company has a market cap of $76.80 billion, a PE ratio of 83.39 and a beta of 1.93.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The company had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.98 billion. During the same quarter last year, the company earned $0.33 earnings per share. The company's revenue for the quarter was up 37.7% on a year-over-year basis. Research analysts predict that DoorDash, Inc. will post 2.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark upped their price objective on DoorDash from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Morgan Stanley reiterated an "overweight" rating and issued a $275.00 target price on shares of DoorDash in a research report on Thursday, February 19th. Bank of America boosted their target price on DoorDash from $260.00 to $272.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Needham & Company LLC decreased their target price on DoorDash from $275.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Finally, Guggenheim decreased their target price on DoorDash from $275.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $261.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.