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

California Public Employees Retirement System trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 3.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 479,085 shares of the company’s stock after selling 16,648 shares during the quarter. California Public Employees Retirement System’s holdings in DoorDash were worth $71,935,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after acquiring an additional 303 shares in the last quarter. Empowered Funds LLC raised its stake in DoorDash by 3.6% during the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after acquiring an additional 285 shares in the last quarter. Sivia Capital Partners LLC lifted its position in DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in DoorDash in the second quarter valued at $222,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

Shares of DoorDash stock opened at $184.14 on Monday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $80.23 billion, a P/E ratio of 87.69 and a beta of 1.78. The company’s fifty day moving average is $169.76 and its two-hundred day moving average is $177.30.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. Analysts forecast that DoorDash, Inc. will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. Wedbush started coverage on DoorDash in a report on Thursday. They issued a “neutral” rating and a $205.00 target price for the company. DA Davidson reduced their target price on DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. KeyCorp decreased their target price on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Finally, BTIG Research dropped their price target on DoorDash from $280.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the transaction, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. 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 74,927 shares of company stock worth $13,241,532 in the last 90 days. Corporate insiders own 5.83% of the company’s stock.

DoorDash News Summary

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

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.