New York State Teachers Retirement System Sells 8,076 Shares of DoorDash, Inc. $DASH

New York State Teachers Retirement System decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.7% in the first quarter, Holdings Channel reports. The fund owned 293,193 shares of the company’s stock after selling 8,076 shares during the period. New York State Teachers Retirement System’s holdings in DoorDash were worth $44,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Capelight Capital Asset Management LP acquired a new stake in shares of DoorDash in the first quarter valued at about $1,652,000. Optas LLC lifted its position in shares of DoorDash by 87.7% during the 1st quarter. Optas LLC now owns 2,410 shares of the company’s stock worth $362,000 after purchasing an additional 1,126 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of DoorDash during the 1st quarter worth about $32,960,000. Leonteq Securities AG boosted its stake in DoorDash by 261.0% during the 1st quarter. Leonteq Securities AG now owns 13,885 shares of the company’s stock valued at $2,085,000 after purchasing an additional 10,039 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in DoorDash by 55.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,590 shares of the company’s stock valued at $14,953,000 after purchasing an additional 35,590 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on DASH. Truist Financial dropped their price target on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of DoorDash in a research report on Thursday, May 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $256.11.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. This represents a 2.09% decrease in their position. 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. Insiders sold a total of 42,707 shares of company stock valued at $7,113,039 in the last quarter. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Stock Performance

Shares of DASH opened at $192.01 on Friday. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $83.66 billion, a price-to-earnings ratio of 91.43 and a beta of 1.78. The stock’s 50-day moving average price is $165.99 and its 200 day moving average price is $180.55.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS 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 company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company earned $0.44 EPS. The company’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, research analysts predict that DoorDash, Inc. will post 2.41 earnings per share for the current year.

DoorDash Company 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.