Maryland State Retirement & Pension System Reduces Holdings in DoorDash, Inc. (NASDAQ:DASH)

Maryland State Retirement & Pension System decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,525 shares of the company’s stock after selling 2,351 shares during the period. Maryland State Retirement & Pension System’s holdings in DoorDash were worth $3,020,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DASH. Brighton Jones LLC grew its stake in shares of DoorDash by 24.0% during 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 last quarter. Envestnet Asset Management Inc. grew its stake in shares of DoorDash by 6.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 92,012 shares of the company’s stock worth $15,435,000 after acquiring an additional 5,617 shares during the last quarter. FMR LLC lifted its holdings in shares of DoorDash by 17.1% during the fourth quarter. FMR LLC now owns 1,342,890 shares of the company’s stock worth $225,270,000 after purchasing an additional 195,973 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of DoorDash by 2.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 155,475 shares of the company’s stock worth $26,081,000 after purchasing an additional 3,880 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of DoorDash by 9.2% during the fourth quarter. Sterling Capital Management LLC now owns 13,262 shares of the company’s stock worth $2,225,000 after purchasing an additional 1,116 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 4.4%

NASDAQ DASH opened at $259.19 on Friday. The business has a fifty day moving average price of $236.11 and a 200 day moving average price of $206.45. DoorDash, Inc. has a one year low of $121.44 and a one year high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 2.07. The company has a market cap of $109.83 billion, a P/E ratio of 144.00 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The firm’s revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) EPS. Research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DASH shares. Benchmark lifted their target price on DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein lifted their target price on DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. 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. JMP Securities lifted their target price on DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a report on Thursday. Finally, BMO Capital Markets lifted their target price on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $259.18.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $244.78, for a total value of $348,811.50. Following the completion of the sale, the chief financial officer directly owned 244,905 shares in the company, valued at $59,947,845.90. This represents a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $247.04, for a total value of $7,411,200.00. Following the completion of the sale, the director owned 22,545 shares of the company’s stock, valued at approximately $5,569,516.80. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 583,537 shares of company stock worth $133,720,004 over the last quarter. Corporate insiders own 5.83% of the company’s stock.

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.