California State Teachers Retirement System Boosts Holdings in DoorDash, Inc. $DASH

California State Teachers Retirement System lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 16,825.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,516,163 shares of the company’s stock after purchasing an additional 102,904,566 shares during the period. California State Teachers Retirement System owned approximately 0.24% of DoorDash worth $19,101,838,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its position in shares of DoorDash by 707.8% during the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after buying an additional 221,985 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in DoorDash by 9.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company’s stock valued at $35,548,000 after acquiring an additional 13,121 shares in the last quarter. Allstate Corp raised its holdings in DoorDash by 116.7% in the fourth quarter. Allstate Corp now owns 29,227 shares of the company’s stock valued at $6,619,000 after acquiring an additional 15,741 shares in the last quarter. Brighton Jones LLC lifted its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Finally, JCP Investment Management LLC acquired a new position in DoorDash during the 1st quarter worth approximately $991,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 16,044 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 217,911 shares in the company, valued at $49,803,559.05. This trade represents a 6.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tony Xu sold 3,767 shares of DoorDash stock in a transaction that occurred on Tuesday, August 25th. The stock was 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 in the company, valued at approximately $345,000. This trade represents a 71.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 399,553 shares of company stock worth $87,034,140. Insiders own 44.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on DASH shares. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a research report on Tuesday, May 12th. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a research report on Monday, August 24th. Argus set a $190.00 target price on DoorDash in a report on Thursday, June 11th. Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Wedbush lifted their price target on DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.97.

DoorDash Price Performance

DASH stock opened at $211.73 on Tuesday. The stock has a market cap of $91.74 billion, a P/E ratio of 110.85 and a beta of 1.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company’s 50 day moving average is $204.35 and its two-hundred day moving average is $179.02.

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

About DoorDash

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.