New York State Common Retirement Fund Sells 3,829 Shares of DoorDash, Inc. $DASH

New York State Common Retirement Fund cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,348 shares of the company’s stock after selling 3,829 shares during the quarter. New York State Common Retirement Fund’s holdings in DoorDash were worth $122,490,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in DoorDash by 16.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 206,952 shares of the company’s stock valued at $56,289,000 after purchasing an additional 29,055 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of DoorDash by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,165,882 shares of the company’s stock valued at $589,098,000 after buying an additional 23,498 shares during the period. Ballentine Partners LLC increased its position in shares of DoorDash by 5.0% in the 3rd quarter. Ballentine Partners LLC now owns 3,295 shares of the company’s stock valued at $896,000 after buying an additional 157 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in DoorDash by 4.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,894 shares of the company’s stock worth $515,000 after buying an additional 76 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in DoorDash during the third quarter worth about $1,142,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alfred Lin bought 389,047 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were acquired at an average cost of $193.81 per share, for a total transaction of $75,401,199.07. Following the completion of the acquisition, the director owned 389,047 shares in the company, valued at approximately $75,401,199.07. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 288,410 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the completion of the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at approximately $45,489,121.60. This represents a 55.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 632,885 shares of company stock valued at $133,222,817 in the last ninety days. 5.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on DASH. Guggenheim restated a “buy” rating and issued a $280.00 price target on shares of DoorDash in a report on Wednesday, November 19th. DA Davidson reissued a “neutral” rating and set a $260.00 target price on shares of DoorDash in a research note on Thursday, November 6th. Barclays cut their price target on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Truist Financial increased their price objective on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Wedbush raised their price objective on shares of DoorDash from $260.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.43.

DoorDash Price Performance

NASDAQ:DASH opened at $206.66 on Thursday. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50. The company has a market cap of $89.07 billion, a P/E ratio of 104.90 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The stock’s 50-day simple moving average is $217.05 and its 200 day simple moving average is $238.46.

DoorDash (NASDAQ:DASH) last posted its quarterly 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 company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

DoorDash Company 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.