Louisiana State Employees Retirement System Buys 300 Shares of DoorDash, Inc. $DASH

Louisiana State Employees Retirement System raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,300 shares of the company’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in DoorDash were worth $11,660,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new stake in DoorDash during the 2nd quarter worth about $288,000. Shell Asset Management Co. grew its holdings in DoorDash by 32.5% during the 2nd quarter. Shell Asset Management Co. now owns 9,116 shares of the company’s stock worth $2,247,000 after acquiring an additional 2,235 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in DoorDash during the 2nd quarter worth about $600,000. KLP Kapitalforvaltning AS grew its holdings in DoorDash by 5.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 126,600 shares of the company’s stock worth $31,208,000 after acquiring an additional 6,100 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in DoorDash during the 2nd quarter worth about $1,053,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total value of $8,046,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Tony Xu sold 34,166 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at $139,605,508. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,000,229 shares of company stock worth $249,280,188 over the last ninety days. Insiders own 5.83% of the company’s stock.

DoorDash Trading Down 1.8%

DASH opened at $276.78 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a fifty-two week low of $141.26 and a fifty-two week high of $285.08. The firm has a market capitalization of $118.24 billion, a PE ratio of 153.77 and a beta of 1.71. The company’s 50-day moving average is $256.89 and its 200 day moving average is $225.36.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business posted ($0.38) EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. As a group, research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group increased their price target on DoorDash from $250.00 to $265.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Royal Bank Of Canada increased their price objective on shares of DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wedbush reissued a “neutral” rating on shares of DoorDash in a research report on Friday, August 8th. Morgan Stanley increased their price objective on shares of DoorDash from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Oppenheimer increased their price objective on shares of DoorDash from $280.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $275.27.

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.