Teachers Retirement System of The State of Kentucky Cuts Stake in DoorDash, Inc. $DASH

Teachers Retirement System of The State of Kentucky cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,092 shares of the company’s stock after selling 12,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in DoorDash were worth $42,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of DoorDash by 3.6% during the third quarter. Victory Capital Management Inc. now owns 451,914 shares of the company’s stock valued at $122,916,000 after buying an additional 15,629 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in shares of DoorDash by 21.9% during the third quarter. Focus Partners Advisor Solutions LLC now owns 13,726 shares of the company’s stock worth $3,733,000 after acquiring an additional 2,466 shares during the last quarter. 111 Capital purchased a new position in DoorDash during the third quarter valued at $912,000. Elo Mutual Pension Insurance Co increased its holdings in DoorDash by 7.8% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,146 shares of the company’s stock valued at $10,917,000 after acquiring an additional 2,904 shares during the last quarter. Finally, Journey Strategic Wealth LLC bought a new stake in DoorDash in the 3rd quarter valued at $287,000. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on DASH shares. Royal Bank Of Canada dropped their price objective on shares of DoorDash from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Citigroup dropped their price target on DoorDash from $283.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Barclays reduced their price objective on DoorDash from $238.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 19th. Guggenheim lowered their target price on DoorDash from $275.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, Susquehanna reduced their price target on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $262.82.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $230.00, for a total transaction of $3,833,410.00. Following the completion of the transaction, the chief executive officer owned 1,500 shares in the company, valued at $345,000. The trade was a 91.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $209.01, for a total value of $9,491,144.10. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 220,826 shares of company stock valued at $48,944,946 over the last quarter. Corporate insiders own 5.83% of the company’s stock.

DoorDash Trading Down 0.0%

DASH stock opened at $176.41 on Tuesday. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The stock has a market capitalization of $76.64 billion, a price-to-earnings ratio of 83.21 and a beta of 1.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $200.85 and its two-hundred day simple moving average is $227.28.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.DoorDash’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.