California Public Employees Retirement System Cuts Stock Position in DoorDash, Inc. $DASH

California Public Employees Retirement System decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,085 shares of the company’s stock after selling 16,648 shares during the period. California Public Employees Retirement System owned about 0.11% of DoorDash worth $71,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eastern Bank increased its stake in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. MV Capital Management Inc. purchased a new position in shares of DoorDash in the fourth quarter valued at approximately $26,000. Swiss RE Ltd. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $28,000. ST Germain D J Co. Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in DoorDash during the 4th quarter worth approximately $32,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DASH. Susquehanna reduced their target price on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Guggenheim restated a “buy” rating and issued a $255.00 price target on shares of DoorDash in a research note on Tuesday, June 23rd. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a research report on Tuesday, May 12th. Wells Fargo & Company reduced their price objective on DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. Finally, Moffett Nathanson set a $276.00 target price on DoorDash in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $184.14 on Monday. The firm’s 50 day moving average price is $169.76 and its 200 day moving average price is $177.30. The stock has a market cap of $80.23 billion, a price-to-earnings ratio of 87.69 and a beta of 1.78. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, equities research analysts predict that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Wedbush initiated coverage on DoorDash with a neutral rating and a $205 price target, implying upside from current levels and signaling Wall Street still sees value in the stock. Benzinga report on Wedbush coverage
• Positive Sentiment: DoorDash unveiled new developer-focused tools, including the dd-cli AI command-line tool for macOS, and also said it will let AI agents place real food orders, which could broaden usage and highlight the company’s push into AI-enabled commerce. TechCrunch article Yahoo Finance article
• Neutral Sentiment: DoorDash is also being mentioned in stories about robots on New Mexico roads and a DoorDash “index” on burger prices in California; these are more business-interest and brand-awareness items than direct stock drivers. Yahoo News article on robots Yahoo Finance article on DoorDash index
• Negative Sentiment: A new lawsuit seeking $25 million claims DoorDash allowed an unlicensed driver to make deliveries, adding to liability and regulatory risk around its delivery network. Daily Press lawsuit article
• Negative Sentiment: Uber’s planned Delivery Hero acquisition is fueling competition concerns, with some coverage saying the deal could make Uber the world’s largest food-delivery player outside China and strengthen a major rival to DoorDash. Business Insider article Zacks article

Insiders Place Their Bets

In related news, Director Shona L. Brown sold 582 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the transaction, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the transaction, the chief financial officer directly owned 252,443 shares in the company, valued at $47,469,381.72. This trade represents a 7.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is currently owned by insiders.

DoorDash 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.