New York State Common Retirement Fund Acquires 47,100 Shares of DoorDash, Inc. $DASH

New York State Common Retirement Fund boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,177 shares of the company’s stock after purchasing an additional 47,100 shares during the period. New York State Common Retirement Fund’s holdings in DoorDash were worth $111,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in DoorDash during the 1st quarter worth approximately $7,200,000. Avantax Advisory Services Inc. increased its stake in DoorDash by 86.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,918 shares of the company’s stock worth $716,000 after purchasing an additional 1,815 shares during the period. Cetera Investment Advisers lifted its position in DoorDash by 34.8% in the first quarter. Cetera Investment Advisers now owns 18,197 shares of the company’s stock valued at $3,326,000 after purchasing an additional 4,699 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of DoorDash by 30.0% during the first quarter. LPL Financial LLC now owns 97,771 shares of the company’s stock valued at $17,870,000 after purchasing an additional 22,579 shares during the period. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a research report on Wednesday, October 8th. Guggenheim reiterated a “buy” rating and set a $280.00 target price on shares of DoorDash in a report on Wednesday, November 19th. Wedbush upgraded DoorDash from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $260.00 in a report on Thursday, November 13th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $325.00 price objective (up previously from $275.00) on shares of DoorDash in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.62.

DoorDash Stock Performance

Shares of DASH opened at $198.50 on Friday. The company has a 50-day simple moving average of $241.74 and a two-hundred day simple moving average of $238.51. 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 market capitalization of $85.55 billion, a PE ratio of 100.76 and a beta of 1.70. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50.

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

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 30,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the completion of the transaction, the chief operating officer owned 914,547 shares of the company’s stock, valued at approximately $247,476,418.20. The trade was a 3.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 756,834 shares of company stock worth $174,539,246 in the last ninety days. 5.83% of the stock is owned by company insiders.

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.