Arizona State Retirement System Has $95.76 Million Stake in DoorDash, Inc. $DASH

Arizona State Retirement System increased its position in DoorDash, Inc. (NASDAQ:DASH) by 390.6% in the 2nd quarter, Holdings Channel reports. The firm owned 518,918 shares of the company’s stock after buying an additional 413,156 shares during the quarter. Arizona State Retirement System’s holdings in DoorDash were worth $95,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC boosted its holdings in shares of DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after acquiring an additional 60 shares in the last quarter. Vise Technologies Inc. increased its holdings in DoorDash by 1.8% during the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after purchasing an additional 63 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock valued at $26,000 after purchasing an additional 64 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in DoorDash by 2.7% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock valued at $465,000 after purchasing an additional 67 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position 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 purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Trending Headlines about DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: SKIMS partnership expands on-demand commerce. DoorDash will help SKIMS customers obtain last-minute apparel and wardrobe items, broadening the platform beyond restaurant delivery and potentially creating additional order volume. SKIMS will use DoorDash to help with last-minute wardrobe needs SKIMS and DoorDash: Solutions For Every Body, Delivered On-Demand
• Positive Sentiment: Football promotion could boost weekend orders and engagement. DoorDash is offering rewards, sweepstakes and prizes tied to Saturday football orders, including cash, a vehicle and other benefits. The campaign may increase order frequency and customer engagement, although its direct financial contribution is unclear. How DoorDash Is Rewarding Football Fans DoorDash Saturday football promotion
• Positive Sentiment: DoorDash Labs received innovation recognition. Being named Innovation Team of the Year provides favorable publicity for the company’s technology and delivery-automation efforts, though the award itself does not immediately change earnings. DoorDash Labs is the Innovation Team of the Year
• Positive Sentiment: Growth outlook remains bullish in analyst commentary. A Seeking Alpha analysis cited 36% year-over-year quarterly revenue growth, increasing DashPass subscriptions, higher marketplace volume and adjusted EBITDA growth as reasons for continued optimism. This is an analyst opinion rather than new company guidance. DoorDash growth outlook
• Neutral Sentiment: A customer-service anecdote involving a DoorDash delivery is receiving attention but has no clear material impact on revenue, costs or investor sentiment. DoorDash delivery anecdote
• Negative Sentiment: Director stock sales may pressure the shares. Director Andy Fang sold 15,000 shares for approximately $3.4 million, while another report highlighted roughly $7.0 million in director selling. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary signal, but insider selling can still weigh on sentiment. DoorDash director stock sale

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. KeyCorp decreased their target price on DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Bank of America reaffirmed a “buy” rating on shares of DoorDash in a report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research report on Friday, August 7th. Benchmark decreased their price objective on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Truist Financial raised their price objective on shares of DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $256.97.

DoorDash Trading Down 5.3%

DASH stock traded down $11.29 during midday trading on Tuesday, reaching $200.44. The stock had a trading volume of 4,538,929 shares, compared to its average volume of 4,731,197. The firm has a market cap of $86.85 billion, a price-to-earnings ratio of 104.94 and a beta of 1.79. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $204.35 and a two-hundred day simple moving average of $179.02.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, research analysts expect that DoorDash, Inc. will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 3,767 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $230.00, for a total value of $866,410.00. Following the transaction, the chief executive officer directly owned 1,500 shares of the company’s stock, valued at approximately $345,000. This trade represents a 71.52% decrease in their ownership of the stock. 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, CFO Ravi Inukonda sold 16,044 shares of DoorDash stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $228.55, for a total transaction of $3,666,856.20. Following the sale, the chief financial officer directly owned 217,911 shares of the company’s stock, valued at $49,803,559.05. This represents a 6.86% 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 399,553 shares of company stock valued at $87,034,140 over the last 90 days. Company insiders own 44.90% of the company’s stock.

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.