Employees Retirement System of Texas Acquires 8,577 Shares of DoorDash, Inc. (NASDAQ:DASH)

Employees Retirement System of Texas boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,529 shares of the company's stock after purchasing an additional 8,577 shares during the quarter. Employees Retirement System of Texas' holdings in DoorDash were worth $7,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock worth $5,254,501,000 after acquiring an additional 317,502 shares during the period. State Street Corp raised its stake in DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company's stock worth $1,055,616,000 after purchasing an additional 272,659 shares during the period. Franklin Resources Inc. boosted its holdings in DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after buying an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of DoorDash by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock worth $763,198,000 after buying an additional 86,667 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research analyst reports. Citigroup reiterated a "buy" rating on shares of DoorDash in a report on Saturday, March 8th. Cantor Fitzgerald boosted their target price on DoorDash from $200.00 to $230.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating on shares of DoorDash in a research note on Monday, March 3rd. Bank of America decreased their target price on DoorDash from $245.00 to $235.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a research note on Monday, March 10th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $207.39.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $1.97 during trading on Friday, reaching $180.49. The company had a trading volume of 3,450,830 shares, compared to its average volume of 4,237,245. The firm's fifty day moving average is $190.27 and its 200 day moving average is $175.33. The firm has a market capitalization of $75.82 billion, a PE ratio of 668.48 and a beta of 1.69. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $215.25.

Insider Activity at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total transaction of $261,060.00. Following the completion of the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares in the company, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,523 shares of company stock valued at $38,726,620 over the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Company 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.