Maryland State Retirement & Pension System Has $2.35 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Maryland State Retirement & Pension System raised its position in DoorDash, Inc. (NASDAQ:DASH) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,804 shares of the company’s stock after buying an additional 770 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DoorDash were worth $2,354,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DASH. Assenagon Asset Management S.A. grew its position in DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after buying an additional 1,052,198 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of DoorDash by 40,319.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock worth $102,805,000 after purchasing an additional 1,037,020 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DoorDash by 3.0% in the third quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock worth $2,149,149,000 after purchasing an additional 781,861 shares during the period. Baillie Gifford & Co. raised its stake in DoorDash by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after purchasing an additional 772,977 shares in the last quarter. Finally, Invesco Ltd. lifted its position in DoorDash by 169.4% during the third quarter. Invesco Ltd. now owns 999,612 shares of the company’s stock worth $79,439,000 after purchasing an additional 628,561 shares during the period. Institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00. Following the completion of the transaction, the chief financial officer now owns 384,425 shares in the company, valued at $50,340,453.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other DoorDash news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at approximately $50,340,453.75. The disclosure for this sale can be found here. Insiders have sold a total of 487,082 shares of company stock worth $63,970,010 in the last ninety days. Insiders own 9.59% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $127.00 in a research note on Friday, March 15th. Wells Fargo & Company raised their target price on DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $137.00 price target on shares of DoorDash in a report on Thursday, May 2nd. Finally, Loop Capital initiated coverage on DoorDash in a research report on Friday, April 19th. They issued a “buy” rating and a $170.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.96.

DoorDash Stock Performance

DASH traded down $4.61 on Wednesday, hitting $110.95. 578,202 shares of the company were exchanged, compared to its average volume of 3,881,188. DoorDash, Inc. has a 12 month low of $62.83 and a 12 month high of $143.34. The firm has a fifty day simple moving average of $131.65 and a two-hundred day simple moving average of $111.24. The stock has a market capitalization of $44.82 billion, a PE ratio of -107.00, a price-to-earnings-growth ratio of 15.89 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the firm posted ($0.41) EPS. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities analysts expect that DoorDash, Inc. will post 0.17 earnings per share for the current year.

DoorDash Profile

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.