State of New Jersey Common Pension Fund D Increases Stock Holdings in DoorDash, Inc. $DASH

State of New Jersey Common Pension Fund D grew its position in DoorDash, Inc. (NASDAQ:DASH) by 1.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 121,109 shares of the company’s stock after purchasing an additional 1,183 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DoorDash were worth $29,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DASH. Vanguard Group Inc. increased its position in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. AQR Capital Management LLC increased its position in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after purchasing an additional 1,497,636 shares in the last quarter. Invesco Ltd. increased its position in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Nuveen LLC purchased a new stake in DoorDash during the 1st quarter worth about $211,415,000. Finally, Deutsche Bank AG increased its position in DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after purchasing an additional 1,058,731 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Capital lifted their price objective on DoorDash from $191.00 to $225.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Mizuho set a $350.00 price target on DoorDash and gave the company an “outperform” rating in a report on Monday, September 29th. Jefferies Financial Group lifted their price target on DoorDash from $265.00 to $280.00 and gave the company a “hold” rating in a report on Friday, October 17th. Citigroup restated an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. Finally, Loop Capital restated a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $287.79.

DoorDash Stock Performance

NASDAQ DASH opened at $258.15 on Friday. The firm has a market capitalization of $110.28 billion, a P/E ratio of 143.42 and a beta of 1.71. DoorDash, Inc. has a 1-year low of $152.26 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The business’s 50-day simple moving average is $259.75 and its 200-day simple moving average is $232.56.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company’s revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) EPS. Equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In related news, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the transaction, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 932,156 shares of company stock valued at $233,565,302. Insiders own 5.83% of the company’s stock.

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.