Great Lakes Retirement Inc. Acquires New Shares in DoorDash, Inc. $DASH

Great Lakes Retirement Inc. bought a new position in DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,370 shares of the company’s stock, valued at approximately $1,461,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after acquiring an additional 1,522,823 shares during the period. State Street Corp lifted its position in DoorDash by 3.1% during the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after purchasing an additional 427,722 shares during the period. Geode Capital Management LLC boosted its holdings in DoorDash by 2.9% in the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after purchasing an additional 223,188 shares during the last quarter. Invesco Ltd. boosted its holdings in DoorDash by 12.0% in the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after purchasing an additional 575,629 shares during the last quarter. Finally, Norges Bank bought a new stake in DoorDash in the 2nd quarter worth approximately $1,185,576,000. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of several research analyst reports. Citizens Jmp lowered their price target on DoorDash from $285.00 to $250.00 and set a “market outperform” rating on the stock in a report on Friday, February 20th. KeyCorp upped their price objective on DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. UBS Group dropped their target price on DoorDash from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. Guggenheim cut their price target on DoorDash from $275.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Finally, Benchmark upped their price target on shares of DoorDash from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $262.82.

DoorDash Stock Performance

NASDAQ:DASH opened at $177.75 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50-day simple moving average of $198.62 and a two-hundred day simple moving average of $226.42. The firm has a market capitalization of $77.22 billion, a PE ratio of 83.84 and a beta of 1.82. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The firm’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. Analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Joe Fresh has launched on-demand delivery through DoorDash, which broadens DoorDash’s retail/vertical reach and adds another recurring merchant partner that can drive order growth. Joe Fresh Launches On-Demand Delivery Through DoorDash
• Positive Sentiment: Coverage of DoorDash coupon/promotional programs (free delivery, percent-off first-order offers) highlights continued marketing levers the company is using to attract and retain customers — a positive for near-term order volume and GMV. DoorDash Coupons: Get Free Delivery And 15% Off Your First Order
• Neutral Sentiment: Local New Jersey police completed a DoorDash delivery after arresting the driver; coverage is mostly a human-interest/PR item and unlikely to have material operational impact beyond short-term headlines. N.J. police complete DoorDash delivery after arresting driver
• Neutral Sentiment: A 247WallSt summary of Goldman Sachs’ tech/media/telecom picks ran today; the broader industry coverage can help investor sentiment for growth names, but the piece doesn’t materially change DoorDash fundamentals by itself. Goldman Sachs Top Tech, Media and Telecom Picks Have 40% to 100% Upside Potential
• Neutral Sentiment: Reported short-interest figures in the feed are inconsistent/zeroed out (likely a data glitch) and do not signal any clear short-selling pressure at this time.
• Negative Sentiment: Mizuho trimmed its price target on DASH from $320 to $255 while keeping an “outperform” rating; a lower target can weigh on near-term sentiment even though the rating remains constructive. Mizuho cuts DoorDash price target
• Negative Sentiment: Incidents tied to drivers/streaming — a Twitch streamer allegedly ate customers’ food on a live delivery and DoorDash had to respond — create reputational risk and highlight ongoing driver-control/brand-safety challenges. DoorDash responds after Twitch streamer Lacy pretends to get fired after livestreaming deliveries

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 1,017 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total transaction of $218,797.38. Following the sale, the chief financial officer directly owned 208,412 shares in the company, valued at $44,837,757.68. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $181.28, for a total transaction of $226,600.00. Following the completion of the transaction, the director directly owned 32,252 shares of the company’s stock, valued at $5,846,642.56. This represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 220,826 shares of company stock worth $48,944,946 in the last 90 days. Insiders own 5.83% of the company’s stock.

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.