Teacher Retirement System of Texas Acquires 21,663 Shares of DoorDash, Inc. (NASDAQ:DASH)

Teacher Retirement System of Texas grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 47.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,555 shares of the company's stock after acquiring an additional 21,663 shares during the period. Teacher Retirement System of Texas' holdings in DoorDash were worth $12,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after acquiring an additional 54 shares during the period. ORG Partners LLC grew its position in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC grew its position in shares of DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares during the period. Mizuho Securities Co. Ltd. grew its position in shares of DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after acquiring an additional 180 shares during the period. Finally, Washington Trust Advisors Inc. bought a new position in shares of DoorDash in the 1st quarter valued at about $56,000. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DASH. DA Davidson lifted their price objective on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Oppenheimer lifted their target price on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a report on Monday, June 30th. JPMorgan Chase & Co. reduced their target price on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $260.00 target price (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $219.32.

DoorDash Stock Down 0.0%

Shares of NASDAQ:DASH traded down $0.05 during midday trading on Friday, hitting $238.76. The stock had a trading volume of 1,699,692 shares, compared to its average volume of 4,243,732. The company's 50-day moving average price is $211.96 and its 200-day moving average price is $193.70. The company has a market capitalization of $101.17 billion, a P/E ratio of 310.08 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $248.74.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. Research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the sale, the director directly owned 22,545 shares of the company's stock, valued at approximately $5,425,679.70. The trade was a 57.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 20,000 shares of DoorDash stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the sale, the chief financial officer directly owned 245,530 shares in the company, valued at $60,645,910. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 427,781 shares of company stock worth $94,277,848 in the last ninety days. Insiders own 5.83% of the company's stock.

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.