California State Teachers Retirement System Sells 9,044 Shares of DoorDash, Inc. $DASH

California State Teachers Retirement System lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 611,597 shares of the company’s stock after selling 9,044 shares during the period. California State Teachers Retirement System’s holdings in DoorDash were worth $91,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DASH. CYBER HORNET ETFs LLC raised its position in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after buying an additional 60 shares in the last quarter. Vise Technologies Inc. increased its stake in DoorDash by 1.8% during the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares during the period. Sunbelt Securities Inc. raised its holdings in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares in the last quarter. AXS Investments LLC lifted its position in shares of DoorDash by 1.3% during the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock valued at $1,232,000 after acquiring an additional 69 shares during the period. Finally, Mutual Advisors LLC grew its holdings in shares of DoorDash by 3.1% during the 4th quarter. Mutual Advisors LLC now owns 2,371 shares of the company’s stock worth $537,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of DoorDash in a research report on Wednesday, July 15th. BTIG Research dropped their target price 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. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. Susquehanna reduced their price target on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a research report on Friday, May 8th. Finally, Guggenheim reiterated a “buy” rating and set a $255.00 price target on shares of DoorDash in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.89.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched DoorDash Air after receiving Federal Aviation Administration Part 135 air-carrier certification. The approval allows the company to conduct commercial drone deliveries in the U.S. and represents a significant regulatory and operational milestone. DoorDash launches in-house drone delivery program after FAA certification
• Positive Sentiment: The company plans to develop its own aircraft and an end-to-end aerial delivery network that will eventually operate through the DoorDash app. If scaled successfully, drones could reduce reliance on gig-economy labor for certain short- and mid-range orders, potentially improving delivery economics and margins. DoorDash is building its own drone delivery business
• Positive Sentiment: DoorDash’s internally developed drone service could expand beyond restaurant orders into retail, pharmaceuticals and other time-sensitive, higher-value deliveries. The company already works with Wing and Flytrex, so the in-house program adds another avenue for autonomous-delivery growth. DoorDash is launching a competing drone delivery service
• Neutral Sentiment: Analysts expect a decline in earnings in DoorDash’s upcoming report, with the company lacking two key indicators typically associated with an earnings beat. This could increase volatility ahead of results. Analysts Estimate DoorDash to Report a Decline in Earnings
• Negative Sentiment: The drone initiative will require substantial upfront investment in aircraft, infrastructure and regulatory compliance. Those costs could weigh on near-term free cash flow before delivery density is high enough to generate meaningful operating leverage. With DASH trading at a high earnings multiple, investors may demand clear evidence that the program can produce stronger profitability.

DoorDash Stock Performance

NASDAQ DASH opened at $193.53 on Thursday. The firm’s fifty day moving average price is $174.13 and its two-hundred day moving average price is $174.90. The stock has a market cap of $84.32 billion, a PE ratio of 92.16 and a beta of 1.78. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $0.44 EPS. DoorDash’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts expect that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity

In related news, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 74,927 shares of company stock valued at $13,241,532. 5.83% of the stock is currently owned by company insiders.

DoorDash Profile

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.