California Public Employees Retirement System Has $147.64 Million Stock Position in DoorDash, Inc. $DASH

California Public Employees Retirement System reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 60.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 598,912 shares of the company’s stock after selling 928,489 shares during the quarter. California Public Employees Retirement System owned 0.14% of DoorDash worth $147,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in DoorDash by 24.0% during 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 in the last quarter. Harbour Investments Inc. grew its holdings in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. Blair William & Co. IL increased its position in DoorDash by 12.8% during the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company’s stock worth $887,000 after purchasing an additional 551 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in DoorDash by 39.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,739 shares of the company’s stock worth $485,000 after purchasing an additional 774 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in DoorDash in the 1st quarter valued at approximately $265,000. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 1.7%

Shares of NASDAQ:DASH opened at $225.00 on Monday. The firm has a market cap of $96.98 billion, a P/E ratio of 114.21 and a beta of 1.72. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50. The business has a fifty day simple moving average of $237.29 and a 200 day simple moving average of $239.36. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alfred Lin acquired 125,000 shares of DoorDash stock in a transaction dated Wednesday, November 26th. The shares were bought at an average cost of $199.01 per share, with a total value of $24,876,250.00. Following the purchase, the director owned 514,047 shares in the company, valued at $102,300,493.47. This trade represents a 32.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 288,410 shares of DoorDash stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the transaction, the chief executive officer directly owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This represents a 55.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 679,563 shares of company stock valued at $152,902,593 over the last three months. Insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 target price on shares of DoorDash in a research note on Thursday, November 6th. Benchmark raised their price objective on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday, November 24th. Susquehanna dropped their target price on DoorDash from $300.00 to $250.00 and set a “positive” rating for the company in a research report on Friday, November 7th. Finally, Morgan Stanley lifted their price target on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.62.

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.