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

New York State Common Retirement Fund trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,052 shares of the company’s stock after selling 13,929 shares during the period. New York State Common Retirement Fund owned about 0.07% of DoorDash worth $27,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in DASH. Assenagon Asset Management S.A. lifted its position in shares of DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after acquiring an additional 1,052,198 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of DoorDash by 3.0% in the third quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock worth $2,149,149,000 after buying an additional 781,861 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after buying an additional 772,977 shares in the last quarter. Invesco Ltd. lifted its position in shares of DoorDash by 169.4% in the third quarter. Invesco Ltd. now owns 999,612 shares of the company’s stock worth $79,439,000 after buying an additional 628,561 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of DoorDash in the third quarter worth about $48,965,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Up 3.1 %

Shares of NASDAQ:DASH opened at $132.11 on Friday. DoorDash, Inc. has a 52-week low of $57.39 and a 52-week high of $143.34. The stock has a market cap of $53.37 billion, a P/E ratio of -92.38, a price-to-earnings-growth ratio of 14.10 and a beta of 1.79. The business’s 50 day moving average is $131.30 and its 200 day moving average is $108.59.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned ($0.63) EPS. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DASH. Truist Financial boosted their target price on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft boosted their target price on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their target price on DoorDash from $110.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Jefferies Financial Group upgraded DoorDash from a “hold” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $130.00 in a research report on Monday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $133.00 target price on shares of DoorDash in a research report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.52.

Insider Buying and Selling

In other DoorDash news, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the sale, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other DoorDash news, CFO Ravi Inukonda sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $109.73, for a total transaction of $548,650.00. Following the completion of the sale, the chief financial officer now owns 414,738 shares in the company, valued at $45,509,200.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Gordon S. Lee sold 1,000 shares of the company’s 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 sale, the chief accounting officer now owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The disclosure for this sale can be found here. Insiders have sold a total of 497,282 shares of company stock valued at $64,885,042 over the last quarter. 9.59% of the stock is owned by corporate insiders.

About DoorDash

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.