Arizona State Retirement System Has $95.76 Million Stock Position in DoorDash, Inc. $DASH

Arizona State Retirement System increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 390.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,918 shares of the company’s stock after purchasing an additional 413,156 shares during the quarter. Arizona State Retirement System owned approximately 0.12% of DoorDash worth $95,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of DoorDash by 16,825.6% in the second quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock worth $19,101,838,000 after acquiring an additional 102,904,566 shares during the last quarter. Norges Bank acquired a new stake in DoorDash during the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP boosted its position in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock valued at $1,241,494,000 after purchasing an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after purchasing an additional 3,447,754 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after purchasing an additional 2,225,954 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Stanley Tang sold 72,367 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the completion of the sale, the director owned 10,361 shares in the company, valued at $2,332,882.76. This represents a 87.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Prabir Adarkar sold 55,289 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total value of $12,813,778.64. Following the completion of the sale, the chief operating officer directly owned 930,211 shares in the company, valued at $215,585,701.36. This trade represents a 5.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 399,553 shares of company stock worth $87,034,140 over the last quarter. 44.90% of the stock is currently owned by company insiders.

DoorDash Stock Performance

Shares of DoorDash stock traded down $11.29 on Tuesday, reaching $200.44. The stock had a trading volume of 4,538,929 shares, compared to its average volume of 4,731,197. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50-day moving average price is $204.35 and its two-hundred day moving average price is $179.02. The stock has a market cap of $86.85 billion, a P/E ratio of 104.94 and a beta of 1.79. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The business’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash, Inc. will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on DASH. Cantor Fitzgerald increased their price objective on DoorDash from $230.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Roth Capital lifted their target price on shares of DoorDash from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Piper Sandler reissued a “neutral” rating and issued a $220.00 target price (up from $205.00) on shares of DoorDash in a research report on Thursday, August 6th. BTIG Research restated a “buy” rating and set a $225.00 price target on shares of DoorDash in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.97.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: SKIMS partnership expands on-demand commerce. DoorDash will help SKIMS customers obtain last-minute apparel and wardrobe items, broadening the platform beyond restaurant delivery and potentially creating additional order volume. SKIMS will use DoorDash to help with last-minute wardrobe needs SKIMS and DoorDash: Solutions For Every Body, Delivered On-Demand
• Positive Sentiment: Football promotion could boost weekend orders and engagement. DoorDash is offering rewards, sweepstakes and prizes tied to Saturday football orders, including cash, a vehicle and other benefits. The campaign may increase order frequency and customer engagement, although its direct financial contribution is unclear. How DoorDash Is Rewarding Football Fans DoorDash Saturday football promotion
• Positive Sentiment: DoorDash Labs received innovation recognition. Being named Innovation Team of the Year provides favorable publicity for the company’s technology and delivery-automation efforts, though the award itself does not immediately change earnings. DoorDash Labs is the Innovation Team of the Year
• Positive Sentiment: Growth outlook remains bullish in analyst commentary. A Seeking Alpha analysis cited 36% year-over-year quarterly revenue growth, increasing DashPass subscriptions, higher marketplace volume and adjusted EBITDA growth as reasons for continued optimism. This is an analyst opinion rather than new company guidance. DoorDash growth outlook
• Neutral Sentiment: A customer-service anecdote involving a DoorDash delivery is receiving attention but has no clear material impact on revenue, costs or investor sentiment. DoorDash delivery anecdote
• Negative Sentiment: Director stock sales may pressure the shares. Director Andy Fang sold 15,000 shares for approximately $3.4 million, while another report highlighted roughly $7.0 million in director selling. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary signal, but insider selling can still weigh on sentiment. DoorDash director stock sale

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.