Retirement Systems of Alabama Acquires 667 Shares of DoorDash, Inc. $DASH

Retirement Systems of Alabama grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,571 shares of the company’s stock after buying an additional 667 shares during the quarter. Retirement Systems of Alabama’s holdings in DoorDash were worth $18,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. GFG Capital LLC purchased a new stake in shares of DoorDash in the second quarter valued at approximately $30,000. Saudi Central Bank purchased a new stake in shares of DoorDash in the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash in the first quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash in the first quarter valued at approximately $27,000. Finally, Harbour Investments Inc. boosted its holdings in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DASH. Barclays began coverage on DoorDash in a report on Friday, October 24th. They issued an “equal weight” rating and a $272.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $315.00 price target on shares of DoorDash in a report on Monday, October 20th. JPMorgan Chase & Co. upgraded DoorDash from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $325.00 in a report on Tuesday, October 14th. Jefferies Financial Group upped their target price on DoorDash from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, Guggenheim upgraded DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $291.88.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the sale, the director directly owned 37,252 shares of the company’s stock, valued at $10,336,312.44. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 24,968 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the sale, the chief operating officer directly owned 909,579 shares in the company, valued at approximately $247,696,553.28. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 852,704 shares of company stock worth $213,921,205 in the last three months. Company insiders own 5.83% of the company’s stock.

DoorDash Price Performance

NASDAQ DASH opened at $254.37 on Friday. 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 stock’s fifty day moving average price is $260.98 and its 200 day moving average price is $235.67. DoorDash, Inc. has a 1 year low of $152.26 and a 1 year high of $285.50. The company has a market cap of $108.67 billion, a price-to-earnings ratio of 141.32 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned ($0.38) EPS. The firm’s revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.