DoorDash, Inc. $DASH Stake Boosted by Vestcor Inc

Vestcor Inc lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 49.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,007 shares of the company’s stock after buying an additional 3,653 shares during the period. Vestcor Inc’s holdings in DoorDash were worth $2,994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Greenland Capital Management LP raised its stake in DoorDash by 637.5% in the second quarter. Greenland Capital Management LP now owns 23,572 shares of the company’s stock worth $5,811,000 after buying an additional 20,376 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of DoorDash by 5.0% during the third quarter. American Century Companies Inc. now owns 485,088 shares of the company’s stock valued at $131,941,000 after acquiring an additional 22,944 shares in the last quarter. Caprock Group LLC purchased a new position in DoorDash in the 3rd quarter worth approximately $3,169,000. Geode Capital Management LLC increased its holdings in DoorDash by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after buying an additional 223,188 shares in the last quarter. Finally, Williamson Legacy Group LLC purchased a new stake in DoorDash during the 2nd quarter valued at $1,264,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Down 3.8%

DoorDash stock opened at $169.93 on Wednesday. The business has a 50 day simple moving average of $194.30 and a 200-day simple moving average of $224.29. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50. The stock has a market capitalization of $73.82 billion, a PE ratio of 80.16 and a beta of 1.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 1.41.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. On average, analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 15,000 shares of DoorDash stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total value of $3,068,850.00. Following the completion of the transaction, the chief operating officer owned 874,130 shares in the company, valued at $178,838,256.70. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 1,017 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total value of $218,797.38. Following the completion of the transaction, the chief financial officer owned 208,412 shares in the company, valued at approximately $44,837,757.68. The trade was a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 204,159 shares of company stock worth $45,111,536 over the last quarter. 5.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DASH. KeyCorp lifted their target price on shares of DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Cantor Fitzgerald reduced their price objective on shares of DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Jefferies Financial Group upped their target price on shares of DoorDash from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. DA Davidson lowered their price target on shares of DoorDash from $260.00 to $224.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Finally, Stifel Nicolaus reduced their target price on shares of DoorDash from $253.00 to $224.00 and set a “hold” rating for the company in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $262.82.

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.