Illinois Municipal Retirement Fund Invests $4.26 Million in DoorDash, Inc. (NASDAQ:DASH)

Illinois Municipal Retirement Fund acquired a new position in DoorDash, Inc. (NASDAQ:DASH) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 43,062 shares of the company’s stock, valued at approximately $4,258,000.

Other institutional investors have also recently made changes to their positions in the company. Versor Investments LP bought a new stake in DoorDash in the 3rd quarter worth approximately $556,000. Assenagon Asset Management S.A. boosted its holdings in DoorDash by 1,725.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after acquiring an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC bought a new stake in DoorDash during the 4th quarter valued at $769,000. Angeles Investment Advisors LLC bought a new position in shares of DoorDash in the 3rd quarter worth $336,000. Finally, Bank of Nova Scotia raised its position in shares of DoorDash by 685.9% in the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after acquiring an additional 40,802 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on DASH. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $130.00 in a research report on Monday, January 8th. Mizuho upped their target price on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. UBS Group lowered their target price on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada upgraded DoorDash from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $175.00 in a research note on Monday, March 4th. Finally, Benchmark started coverage on DoorDash in a research note on Thursday, April 4th. They issued a “buy” rating and a $165.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.52.

DoorDash Stock Performance

Shares of DASH stock opened at $126.76 on Thursday. DoorDash, Inc. has a 52-week low of $56.59 and a 52-week high of $143.34. The stock’s 50-day moving average price is $130.95 and its 200 day moving average price is $108.06.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. DoorDash’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.63) EPS. As a group, equities research analysts anticipate that DoorDash, Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the completion of the transaction, the director now directly owns 40,969 shares in the company, valued at approximately $4,529,942.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the sale, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The disclosure for this sale can be found here. Insiders sold 497,282 shares of company stock worth $64,885,042 in the last ninety days. Insiders own 9.59% 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.