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

California Public Employees Retirement System trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 60.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 598,912 shares of the company’s stock after selling 928,489 shares during the quarter. California Public Employees Retirement System’s holdings in DoorDash were worth $147,638,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DASH. Norges Bank acquired a new position in shares of DoorDash during the 2nd quarter valued at $1,185,576,000. Vanguard Group Inc. increased its stake in DoorDash by 4.6% in the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after purchasing an additional 1,792,799 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. Invesco Ltd. raised its holdings in shares of DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the period. Finally, Nuveen LLC bought a new position in shares of DoorDash during the 1st quarter worth about $211,415,000. Institutional investors own 90.64% of the company’s stock.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 232,040 shares of the company’s stock, valued at $45,489,121.60. The trade was a 55.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 679,563 shares of company stock worth $152,902,593. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $225.00 on Monday. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $237.29 and a 200-day moving average price of $239.36. The company has a market cap of $96.98 billion, a PE ratio of 114.21 and a beta of 1.72.

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

Analysts Set New Price Targets

A number of analysts recently commented on DASH shares. Morgan Stanley boosted their target price on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. KeyCorp reissued an “overweight” rating and issued a $280.00 price objective on shares of DoorDash in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their price objective on DoorDash from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Cantor Fitzgerald lowered their target price on DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Wedbush upgraded DoorDash from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $160.00 to $260.00 in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.