DoorDash, Inc. (NASDAQ:DASH) Shares Bought by Vestcor Inc

Vestcor Inc raised its position in DoorDash, Inc. (NASDAQ:DASH) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,435 shares of the company’s stock after buying an additional 779 shares during the quarter. Vestcor Inc’s holdings in DoorDash were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DASH. Capital World Investors raised its stake in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. Invesco Ltd. increased its holdings in shares of DoorDash by 20.2% in the fourth quarter. Invesco Ltd. now owns 3,383,657 shares of the company’s stock valued at $567,609,000 after purchasing an additional 567,948 shares during the period. Marshall Wace LLP raised its stake in shares of DoorDash by 0.6% during the fourth quarter. Marshall Wace LLP now owns 2,764,431 shares of the company’s stock worth $463,733,000 after purchasing an additional 15,952 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of DoorDash by 46.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company’s stock worth $422,036,000 after purchasing an additional 800,322 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of DoorDash by 13.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,473,488 shares of the company’s stock worth $414,928,000 after purchasing an additional 286,800 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Raymond James Financial lifted their target price on shares of DoorDash from $260.00 to $275.00 and gave the company a “strong-buy” rating in a report on Monday, July 21st. Morgan Stanley reissued an “overweight” rating and set a $275.00 price target (up from $220.00) on shares of DoorDash in a report on Monday, July 21st. Jefferies Financial Group restated a “hold” rating and issued a $250.00 price objective (up previously from $235.00) on shares of DoorDash in a research report on Tuesday, July 15th. Finally, KeyCorp boosted their target price on DoorDash from $235.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $235.56.

DoorDash Stock Down 0.8%

Shares of NASDAQ:DASH opened at $248.35 on Friday. The company has a market capitalization of $105.24 billion, a P/E ratio of 322.54 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $106.21 and a 52-week high of $252.87. The stock’s fifty day simple moving average is $230.64 and its 200-day simple moving average is $203.47.

DoorDash (NASDAQ:DASH) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In related news, CEO Tony Xu sold 44,244 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer owned 520,450 shares of the company’s stock, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares of the company’s stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 508,127 shares of company stock worth $115,087,539. Corporate insiders own 5.83% of the company’s stock.

About DoorDash

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.