California State Teachers Retirement System Cuts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

California State Teachers Retirement System decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 498,085 shares of the company’s stock after selling 10,937 shares during the period. California State Teachers Retirement System owned approximately 0.12% of DoorDash worth $83,554,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC increased its position in shares of DoorDash by 3.7% in the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock worth $240,000 after purchasing an additional 51 shares during the last quarter. IFP Advisors Inc raised its stake in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock worth $46,000 after acquiring an additional 69 shares during the period. Avestar Capital LLC boosted its stake in DoorDash by 1.1% during the 4th quarter. Avestar Capital LLC now owns 6,618 shares of the company’s stock valued at $1,110,000 after purchasing an additional 75 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock valued at $1,970,000 after buying an additional 84 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Up 0.1 %

Shares of DASH opened at $187.88 on Tuesday. The stock has a 50 day moving average of $185.58 and a 200-day moving average of $178.49. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The firm has a market cap of $78.93 billion, a price-to-earnings ratio of 695.85 and a beta of 1.69.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DASH. Wolfe Research boosted their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. UBS Group boosted their price target on DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Piper Sandler reissued a “neutral” rating and set a $210.00 target price (up from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. FBN Securities started coverage on shares of DoorDash in a research note on Friday, March 28th. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, Citigroup restated an “outperform” rating on shares of DoorDash in a research note on Monday. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.66.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $184.85, for a total value of $3,697,000.00. Following the completion of the sale, the chief operating officer now owns 887,348 shares of the company’s stock, valued at $164,026,277.80. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Keith Yandell sold 8,116 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $1,651,200.20. Following the sale, the insider now owns 105,162 shares of the company’s stock, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,086 shares of company stock worth $30,127,884 over the last ninety days. Company insiders own 7.92% 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.