Texas Permanent School Fund Corp Trims Stock Holdings in DoorDash, Inc. $DASH

by · The Cerbat Gem

Texas Permanent School Fund Corp lessened its stake in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 48.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,065 shares of the company’s stock after selling 22,530 shares during the quarter. Texas Permanent School Fund Corp’s holdings in DoorDash were worth $5,932,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DASH. Vanguard Group Inc. lifted its holdings in shares of DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after acquiring an additional 1,792,799 shares during the last quarter. State Street Corp lifted its stake in DoorDash by 3.1% during the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after purchasing an additional 427,722 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of DoorDash by 2.9% during the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after buying an additional 223,188 shares during the period. Invesco Ltd. boosted its position in shares of DoorDash by 12.0% during the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after buying an additional 575,629 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after buying an additional 641,601 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Benchmark raised their target price on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group cut their target price on shares of DoorDash from $316.00 to $241.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Morgan Stanley increased their target price on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Wells Fargo & Company dropped their price target on shares of DoorDash from $301.00 to $239.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.46.

Get Our Latest Report on DoorDash

DoorDash Trading Up 0.4%

NASDAQ DASH opened at $227.94 on Wednesday. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The firm has a 50 day moving average of $230.70 and a two-hundred day moving average of $240.40. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $98.24 billion, a PE ratio of 115.71 and a beta of 1.72.

DoorDash (NASDAQ:DASH – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.DoorDash’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. As a group, research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $204.95, for a total transaction of $5,123,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $205.07, for a total value of $9,312,228.70. The SEC filing for this sale provides additional information. Insiders sold 644,980 shares of company stock worth $143,500,178 over the last three months. Company insiders own 5.83% of the company’s stock.

DoorDash Company Profile

(Free Report)

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.

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