Vestcor Inc Boosts Stake in DoorDash, Inc. $DASH

Vestcor Inc raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 56.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,182 shares of the company’s stock after buying an additional 6,175 shares during the quarter. Vestcor Inc’s holdings in DoorDash were worth $3,891,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eastern Bank grew its position in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in DoorDash during the fourth quarter worth about $29,000. Sunbelt Securities Inc. grew its position in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of DoorDash in the 3rd quarter worth about $36,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of DoorDash in the 4th quarter worth about $39,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the completion of the sale, the insider owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. The trade was a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This trade 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. Insiders have sold a total of 69,808 shares of company stock worth $11,135,403 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Down 2.0%

NASDAQ DASH opened at $156.80 on Friday. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $162.40 and a 200-day moving average of $185.84. The firm has a market cap of $68.32 billion, a PE ratio of 74.67 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $0.44 EPS. DoorDash’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on DoorDash from $280.00 to $250.00 and set a “buy” rating for the company in a report on Friday, May 8th. Piper Sandler cut their price objective on DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $280.00 price objective on shares of DoorDash in a report on Thursday, May 7th. Moffett Nathanson set a $276.00 price objective on DoorDash in a report on Wednesday, April 15th. Finally, Oppenheimer cut their price objective on DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.58.

About DoorDash

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.