Teachers Retirement System of The State of Kentucky Has $26.84 Million Stock Position in DoorDash, Inc. $DASH

Teachers Retirement System of The State of Kentucky grew its position in DoorDash, Inc. (NASDAQ:DASH) by 20.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,730 shares of the company’s stock after acquiring an additional 30,818 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in DoorDash were worth $26,836,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DASH. Vanguard Group Inc. increased its position in shares of DoorDash by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock valued at $9,835,229,000 after purchasing an additional 713,571 shares during the period. SC US Ttgp LTD. raised its stake in shares of DoorDash by 1.6% in the fourth quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after purchasing an additional 506,358 shares in the last quarter. Morgan Stanley lifted its position in DoorDash by 2.3% in the fourth quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock worth $3,971,741,000 after purchasing an additional 391,596 shares during the period. State Street Corp lifted its position in DoorDash by 3.0% in the fourth quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after purchasing an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after buying an additional 3,447,754 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price target on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. DA Davidson decreased their target price on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. BTIG Research dropped their price target on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Finally, Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $256.08.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 19,095 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,927 shares of company stock valued at $15,124,932 in the last three months. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $191.82 on Monday. The firm’s 50-day simple moving average is $167.76 and its 200 day simple moving average is $178.88. The company has a market cap of $83.58 billion, a price-to-earnings ratio of 91.34 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, research analysts expect that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

About DoorDash

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.