New York State Common Retirement Fund Reduces Position in DoorDash, Inc. (NASDAQ:DASH)

New York State Common Retirement Fund lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 277,052 shares of the company’s stock after selling 13,929 shares during the quarter. New York State Common Retirement Fund’s holdings in DoorDash were worth $27,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DASH. Fifth Third Bancorp grew its stake in DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock worth $35,000 after buying an additional 359 shares during the last quarter. Covestor Ltd lifted its position in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after acquiring an additional 253 shares during the period. Valley National Advisers Inc. acquired a new stake in DoorDash during the 4th quarter worth approximately $43,000. SJS Investment Consulting Inc. lifted its position in DoorDash by 26.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after acquiring an additional 98 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in DoorDash by 1,274.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 701 shares of the company’s stock worth $56,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Moffett Nathanson raised DoorDash from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $164.00 in a research report on Thursday, April 11th. Benchmark assumed coverage on DoorDash in a research report on Thursday, April 4th. They set a “buy” rating and a $165.00 price objective for the company. Wedbush increased their price objective on DoorDash from $92.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Oppenheimer increased their price objective on DoorDash from $110.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Susquehanna raised their price target on DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, February 20th. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $130.52.

DoorDash Stock Performance

Shares of DASH stock opened at $132.11 on Friday. The stock has a fifty day moving average price of $131.30 and a 200 day moving average price of $108.59. The stock has a market cap of $53.37 billion, a PE ratio of -92.38, a P/E/G ratio of 14.10 and a beta of 1.79. DoorDash, Inc. has a 1 year low of $57.39 and a 1 year high of $143.34.

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

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Gordon S. Lee sold 1,000 shares of DoorDash 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 sale, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at $11,479,771.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 497,282 shares of company stock valued at $64,885,042. Corporate insiders own 9.59% of the company’s stock.

DoorDash Profile

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.