Louisiana State Employees Retirement System Invests $2.92 Million in DoorDash, Inc. (NASDAQ:DASH)

Louisiana State Employees Retirement System purchased a new position in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,500 shares of the company’s stock, valued at approximately $2,917,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP purchased a new stake in shares of DoorDash in the third quarter worth about $556,000. Assenagon Asset Management S.A. increased its position in shares of DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the last quarter. Angeles Investment Advisors LLC bought a new position in shares of DoorDash in the third quarter worth approximately $336,000. Bank of Nova Scotia increased its position in shares of DoorDash by 685.9% in the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after purchasing an additional 40,802 shares during the last quarter. Finally, Jump Financial LLC increased its position in shares of DoorDash by 131.3% in the third quarter. Jump Financial LLC now owns 15,841 shares of the company’s stock worth $1,259,000 after purchasing an additional 8,993 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 4.0 %

Shares of DASH stock opened at $132.90 on Tuesday. The stock has a fifty day moving average of $129.22 and a 200 day moving average of $105.70. DoorDash, Inc. has a 52 week low of $56.59 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the business earned ($0.63) EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Equities analysts anticipate that DoorDash, Inc. will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

DASH has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Morgan Stanley upgraded shares of DoorDash from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. Mizuho increased their price target on shares of DoorDash from $140.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Jefferies Financial Group upgraded shares of DoorDash from a “hold” rating to a “buy” rating and increased their price target for the company from $90.00 to $130.00 in a research report on Monday, January 8th. Finally, Oppenheimer increased their price target on shares of DoorDash from $110.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.25.

Insider Buying and Selling

In related news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the completion of the sale, the director now owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the completion of the transaction, the director now owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $110.57, for a total value of $7,408,190.00. Following the transaction, the director now directly owns 40,969 shares of the company’s stock, valued at approximately $4,529,942.33. The disclosure for this sale can be found here. Insiders sold 364,982 shares of company stock valued at $47,221,669 over the last quarter. 9.59% of the stock is owned by company insiders.

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.