94,371 DoorDash, Inc. $DASH Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 468.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,528 shares of the company’s stock after buying an additional 94,371 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DoorDash were worth $21,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Temasek Holdings Private Ltd increased its holdings in shares of DoorDash by 49.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after acquiring an additional 1,145,078 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of DoorDash by 2,304.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock worth $633,635,000 after purchasing an additional 3,308,512 shares during the period. Bank of America Corp DE raised its position in shares of DoorDash by 18.4% during the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock worth $517,907,000 after purchasing an additional 536,080 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of DoorDash by 372.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after purchasing an additional 2,472,980 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $178.26 on Thursday. The company has a market cap of $77.72 billion, a PE ratio of 73.66, a price-to-earnings-growth ratio of 1.47 and a beta of 1.98. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $239.00. The business has a 50 day moving average price of $190.24 and a 200-day moving average price of $182.09. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.25. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.69 earnings per share for the current fiscal year.

Key DoorDash News

Here’s some of the latest news about DASH:

• Positive Sentiment: DoorDash plans to test a weather-resilient robot delivery system in Salt Lake City. If the technology proves reliable, it could help the company expand delivery options and improve efficiency, although this is still a test rather than a broad rollout. DoorDash to test weather-resilient robot delivery system in Salt Lake City
• Neutral Sentiment: Coverage highlights DoorDash’s $17 billion Instacart deal and its implications for online pricing and local commerce. The combination could broaden DoorDash’s reach, but pricing dynamics and integration remain important execution questions for investors. DoorDash Is Growing Fast, but Its $17 Billion Instacart Deal Takes Center Stage DoorDash-Instacart combination shines a spotlight on e-commerce pricing
• Negative Sentiment: A report describes a company seeking to compete with DoorDash and Uber Eats using their own delivery workers, underscoring ongoing competitive pressure; the article provides no evidence of a material near-term effect on DoorDash. This CEO wants to take on DoorDash and Uber Eats using their own delivery workers

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $183.69, for a total transaction of $918,450.00. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 8,738 shares of DoorDash stock in a transaction on Monday, September 28th. The stock was sold at an average price of $180.85, for a total transaction of $1,580,267.30. Following the transaction, the chief operating officer directly owned 921,473 shares in the company, valued at $166,648,392.05. This represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 349,430 shares of company stock worth $76,644,002 in the last three months. 44.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America reissued a “buy” rating on shares of DoorDash in a research report on Friday, October 30th. Barclays lowered their price objective on shares of DoorDash from $230.00 to $205.00 and set an “equal weight” rating on the stock in a report on Friday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of DoorDash in a report on Wednesday, November 4th. Moffett Nathanson dropped their price objective on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Mizuho set a $255.00 price objective on shares of DoorDash in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.82.

DoorDash Company Profile

DoorDash, Inc. operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup. The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.