State of Alaska Department of Revenue Has $3.25 Million Position in DoorDash, Inc. (NASDAQ:DASH)

State of Alaska Department of Revenue cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 54.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,800 shares of the company’s stock after selling 27,140 shares during the period. State of Alaska Department of Revenue’s holdings in DoorDash were worth $3,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after acquiring an additional 610,388 shares in the last quarter. Forsta AP Fonden raised its holdings in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after acquiring an additional 10,100 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in DoorDash in the 1st quarter valued at $2,969,000. CWM LLC raised its holdings in DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares in the last quarter. Finally, Paragon Capital Management Inc. acquired a new position in DoorDash in the 2nd quarter valued at $1,309,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on DASH shares. Truist Financial lifted their price objective on DoorDash from $150.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Raymond James started coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target on the stock. Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Jefferies Financial Group lifted their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $151.00.

DoorDash Trading Up 0.0 %

Shares of DASH stock opened at $155.25 on Thursday. The stock has a market cap of $63.89 billion, a price-to-earnings ratio of -152.21, a PEG ratio of 425.82 and a beta of 1.70. The stock has a 50-day moving average of $139.31 and a 200-day moving average of $123.83. DoorDash, Inc. has a 1-year low of $72.65 and a 1-year high of $156.58.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Activity at DoorDash

In related news, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now owns 65,186 shares in the company, valued at $7,822,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the sale, the director now owns 65,186 shares in the company, valued at $7,822,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. Insiders have sold a total of 383,710 shares of company stock worth $53,725,640 in the last 90 days. Corporate insiders own 7.92% of the company’s stock.

DoorDash Profile

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.