Kentucky Retirement Systems Insurance Trust Fund Makes New $1.88 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in DoorDash, Inc. (NASDAQ:DASH) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,280 shares of the company’s stock, valued at approximately $1,879,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock worth $5,254,501,000 after buying an additional 317,502 shares during the last quarter. Capital World Investors raised its holdings in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after buying an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after acquiring an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock worth $763,198,000 after acquiring an additional 86,667 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 44,244 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the transaction, the chief executive officer now owns 520,450 shares of the company’s stock, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the completion of the transaction, the chief operating officer now directly owns 887,348 shares in the company, valued at $164,674,041.84. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,559 shares of company stock valued at $66,306,707. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $220.46 on Monday. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $223.81. The company has a market capitalization of $93.42 billion, a P/E ratio of 286.32 and a beta of 1.67. The firm’s 50 day simple moving average is $200.53 and its two-hundred day simple moving average is $189.43.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DASH shares. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Needham & Company LLC lifted their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Benchmark lifted their price target on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Evercore ISI reiterated an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Finally, Wedbush reiterated an “outperform” rating on shares of DoorDash in a research note on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.21.

DoorDash 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.