North Dakota State Investment Board Makes New $2.97 Million Investment in DoorDash, Inc. $DASH

by · The Cerbat Gem

North Dakota State Investment Board acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,105 shares of the company’s stock, valued at approximately $2,968,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its position in DoorDash by 284.0% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock worth $26,000 after purchasing an additional 71 shares in the last quarter. Eastern Bank grew its position in DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. grew its position in DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after purchasing an additional 67 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in DoorDash during the 4th quarter worth approximately $29,000. Finally, Morse Asset Management Inc purchased a new position in DoorDash during the 3rd quarter worth approximately $36,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Up 2.2%

Shares of NASDAQ:DASH opened at $162.67 on Tuesday. The firm has a fifty day moving average of $164.17 and a two-hundred day moving average of $191.96. The firm has a market capitalization of $70.88 billion, a P/E ratio of 77.46 and a beta of 1.87. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during 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%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. On average, equities analysts expect that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the sale, the director owned 31,002 shares of the company’s stock, valued at $5,475,263.22. This trade represents a 3.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 10,000 shares of DoorDash stock in a transaction on Monday, April 20th. The shares were sold at an average price of $188.34, for a total transaction of $1,883,400.00. Following the sale, the chief operating officer directly owned 843,678 shares of the company’s stock, valued at $158,898,314.52. This trade represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,683 shares of company stock valued at $6,908,813 in the last quarter. Company insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on DASH shares. Piper Sandler lowered their price objective on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Citizens Jmp lowered their price objective on shares of DoorDash from $285.00 to $250.00 and set a “market outperform” rating on the stock in a research report on Friday, February 20th. KeyCorp lifted their price objective on shares of DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Cantor Fitzgerald lowered their price objective on shares of DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.58.

View Our Latest Stock Report on DASH

About DoorDash

(Free Report)

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.

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