New York State Common Retirement Fund Sells 3,829 Shares of DoorDash, Inc. $DASH

New York State Common Retirement Fund lowered its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,348 shares of the company’s stock after selling 3,829 shares during the period. New York State Common Retirement Fund owned about 0.11% of DoorDash worth $122,490,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of DoorDash by 16.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 206,952 shares of the company’s stock valued at $56,289,000 after acquiring an additional 29,055 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in DoorDash by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 2,165,882 shares of the company’s stock worth $589,098,000 after purchasing an additional 23,498 shares during the period. Ballentine Partners LLC boosted its holdings in DoorDash by 5.0% during the third quarter. Ballentine Partners LLC now owns 3,295 shares of the company’s stock valued at $896,000 after purchasing an additional 157 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of DoorDash by 4.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,894 shares of the company’s stock valued at $515,000 after purchasing an additional 76 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of DoorDash in the 3rd quarter worth approximately $1,142,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $206.66 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50 day simple moving average of $217.05 and a 200 day simple moving average of $238.46. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The firm has a market cap of $89.07 billion, a P/E ratio of 104.90 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. Sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DASH has been the topic of a number of analyst reports. Susquehanna lowered their price target on DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday, November 24th. Truist Financial lifted their price target on shares of DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Bank of America reduced their price target on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Jefferies Financial Group lifted their target price on shares of DoorDash from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $280.43.

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $222.33, for a total transaction of $277,912.50. Following the completion of the sale, the director owned 33,502 shares in the company, valued at $7,448,499.66. The trade was a 3.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $222.53, for a total transaction of $10,105,087.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 632,885 shares of company stock valued at $133,222,817. 5.83% of the stock is currently owned by insiders.

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.