DoorDash, Inc. $DASH Stock: Maryland State Retirement & Pension System Boosts Holdings

Maryland State Retirement & Pension System lifted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 468.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,528 shares of the company’s stock after acquiring an additional 94,371 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DoorDash were worth $21,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City State Bank increased its position in DoorDash by 56.0% during the 3rd quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 56 shares during the period. Washington Trust Advisors Inc. raised its holdings in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after purchasing an additional 64 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in DoorDash by 2.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after purchasing an additional 67 shares during the last quarter. Fairscale Capital LLC raised its holdings in DoorDash by 128.6% during the 3rd quarter. Fairscale Capital LLC now owns 144 shares of the company’s stock worth $25,000 after purchasing an additional 81 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in shares of DoorDash by 3.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 2,868 shares of the company’s stock worth $526,000 after purchasing an additional 84 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Latest DoorDash News

These are some of the DASH news items that stood out recently:

• Neutral Sentiment: Coverage highlights DoorDash’s $17 billion Instacart deal and its implications for online pricing and local commerce. The combination could broaden DoorDash’s reach, but pricing dynamics and integration remain important execution questions for investors. DoorDash Is Growing Fast, but Its $17 Billion Instacart Deal Takes Center Stage DoorDash-Instacart combination shines a spotlight on e-commerce pricing
• Negative Sentiment: An analysis argues DASH looks overvalued after a major three-year run. Valuation concerns could constrain investor appetite, particularly with shares trading below their recent moving averages. DoorDash Stock Looks Overvalued Following Its 90% Three Year Run
• Negative Sentiment: A report describes a company seeking to compete with DoorDash and Uber Eats using their own delivery workers, underscoring ongoing competitive pressure; the article provides no evidence of a material near-term effect on DoorDash. This CEO wants to take on DoorDash and Uber Eats using their own delivery workers

Insider Buying and Selling

In related news, Director Andy Fang sold 5,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $183.69, for a total transaction of $918,450.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $195.00, for a total transaction of $198,315.00. Following the transaction, the chief financial officer directly owned 217,911 shares in the company, valued at approximately $42,492,645. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 349,430 shares of company stock worth $76,644,002 over the last ninety days. 44.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DASH. Benchmark upped their price objective on shares of DoorDash from $270.00 to $295.00 in a research note on Thursday, August 6th. Moffett Nathanson decreased their price objective on shares of DoorDash from $280.00 to $278.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a research note on Friday, October 30th. Guggenheim restated a “buy” rating and issued a $255.00 target price on shares of DoorDash in a report on Wednesday, October 14th. Finally, The Goldman Sachs Group dropped their target price on shares of DoorDash from $280.00 to $275.00 in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $249.82.

DoorDash Trading Up 0.0%

NASDAQ DASH opened at $178.26 on Thursday. The stock has a market capitalization of $77.72 billion, a P/E ratio of 73.66, a P/E/G ratio of 1.47 and a beta of 1.98. The business has a 50 day simple moving average of $190.24 and a 200 day simple moving average of $182.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.46 and a quick ratio of 1.46. DoorDash, Inc. has a one year low of $143.30 and a one year high of $239.00.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.25. The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. Research analysts expect that DoorDash, Inc. will post 2.69 earnings per share for the current year.

DoorDash Company Profile

DoorDash, Inc. operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup. The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.