Louisiana State Employees Retirement System Invests $6.91 Million in DoorDash, Inc. $DASH

Louisiana State Employees Retirement System acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) during the 1st quarter, Holdings Channel.com reports. The firm acquired 46,000 shares of the company’s stock, valued at approximately $6,907,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DASH. American Century Companies Inc. lifted its stake in shares of DoorDash by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 485,088 shares of the company’s stock valued at $131,941,000 after purchasing an additional 22,944 shares during the period. Intech Investment Management LLC increased its holdings in DoorDash by 707.8% in the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock valued at $57,378,000 after purchasing an additional 221,985 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in DoorDash in the fourth quarter valued at about $41,712,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of DoorDash by 7.1% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company’s stock worth $219,276,000 after buying an additional 53,722 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in shares of DoorDash by 136.6% in the 3rd quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company’s stock valued at $11,520,000 after acquiring an additional 24,454 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash launched a new conversational shopping assistant for grocery orders, a sign it is expanding its AI-enabled shopping tools and improving the platform’s utility for consumers. DoorDash launches conversational shopping assistant
• Positive Sentiment: Precisely said it is launching a new commercial property imagery product enabled by DoorDash Tasks, highlighting another use case for DoorDash’s logistics and task-based platform beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Positive Sentiment: DoorDash was featured at Cannes Lions in a high-profile UTA ads executive event, which may support brand visibility and advertising relationships. Inside the UTA and DoorDash Ads Executive Soirée at Cannes Lions
• Neutral Sentiment: DoorDash gift cards were highlighted in a Prime Day deals roundup, which may modestly support consumer demand but is not a major company-specific catalyst. I’m heavily considering buying these gift cards on sale for Prime Day
• Negative Sentiment: Multiple news reports described violent or disruptive incidents tied to DoorDash deliveries, including a shooting during a delivery, a carjacking, and a delivery-related dispute. These stories can pressure investor sentiment by raising concerns about driver safety and platform risk. Teens told St. Louis police someone shot at them during a DoorDash delivery
• Negative Sentiment: A separate article said a DoorDash order was used in a scam that drained a customer’s bank account, adding to reputational concerns around the service. The DoorDash Order Was A Setup. The “Support” Call Drained Her Account

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the sale, the director directly owned 19,279 shares in the company, valued at $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 58,558 shares of company stock worth $9,324,940. Insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $176.91 on Friday. The firm has a market cap of $77.08 billion, a price-to-earnings ratio of 84.24 and a beta of 1.83. The stock’s 50-day moving average is $165.43 and its 200-day moving average is $181.84. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.DoorDash’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities analysts predict that DoorDash, Inc. will post 2.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

DASH has been the subject of a number of analyst reports. DA Davidson decreased their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their price target on shares of DoorDash from $198.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Truist Financial lowered their price objective on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Argus set a $190.00 price objective on DoorDash in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $256.11.

DoorDash Company 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.