State of New Jersey Common Pension Fund D Boosts Holdings in DoorDash, Inc. (NASDAQ:DASH)

State of New Jersey Common Pension Fund D grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,742 shares of the company’s stock after buying an additional 6,352 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DoorDash were worth $16,092,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its stake in DoorDash by 98.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,732 shares of the company’s stock valued at $789,000 after purchasing an additional 2,848 shares in the last quarter. Empowered Funds LLC raised its holdings in DoorDash by 31.6% during the first quarter. Empowered Funds LLC now owns 5,732 shares of the company’s stock worth $789,000 after purchasing an additional 1,375 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in DoorDash by 101.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,925 shares of the company’s stock valued at $1,780,000 after acquiring an additional 6,509 shares during the last quarter. Forsta AP Fonden raised its position in shares of DoorDash by 11.6% during the first quarter. Forsta AP Fonden now owns 54,800 shares of the company’s stock worth $7,547,000 after purchasing an additional 5,700 shares during the period. Finally, Atomi Financial Group Inc. raised its position in DoorDash by 39.4% during the first quarter. Atomi Financial Group Inc. now owns 10,338 shares of the company’s stock valued at $1,424,000 after buying an additional 2,924 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

DASH has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research note on Monday, October 7th. Mizuho upped their price objective on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Roth Mkm lifted their target price on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a research report on Wednesday, September 25th. Finally, JMP Securities boosted their price objective on shares of DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Price Performance

Shares of DoorDash stock traded up $0.81 on Friday, reaching $171.40. The company had a trading volume of 2,320,838 shares, compared to its average volume of 3,429,784. The firm’s 50-day moving average price is $144.18 and its two-hundred day moving average price is $125.43. The firm has a market cap of $71.20 billion, a price-to-earnings ratio of -380.89, a P/E/G ratio of 14.27 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $83.58 and a 1 year high of $172.18.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, analysts anticipate that DoorDash, Inc. will post 0.24 EPS for the current year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 324,539 shares of company stock valued at $46,439,330. Insiders own 7.92% of the company’s stock.

DoorDash Company 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.