New York State Teachers Retirement System Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

New York State Teachers Retirement System reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,153 shares of the company's stock after selling 3,935 shares during the period. New York State Teachers Retirement System's holdings in DoorDash were worth $2,542,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock worth $789,766,000 after purchasing an additional 700,465 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company's stock worth $94,716,000 after acquiring an additional 651,525 shares during the period. Franklin Resources Inc. grew its position in DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company's stock worth $570,135,000 after purchasing an additional 501,905 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in DoorDash by 37.5% in the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company's stock valued at $294,701,000 after acquiring an additional 476,360 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Down 2.3 %

DASH traded down $4.60 on Tuesday, reaching $191.27. 4,076,535 shares of the company traded hands, compared to its average volume of 3,450,199. The company has a market cap of $80.35 billion, a P/E ratio of 708.41 and a beta of 1.72. The firm has a fifty day simple moving average of $183.18 and a two-hundred day simple moving average of $162.29. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.24.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DASH shares. Morgan Stanley raised their target price on DoorDash from $160.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Barclays boosted their price objective on DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, February 13th. Needham & Company LLC raised their target price on shares of DoorDash from $180.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Argus upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research report on Friday, December 20th. Finally, Cantor Fitzgerald raised their price objective on shares of DoorDash from $200.00 to $230.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.52.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $179.76, for a total transaction of $1,258,320.00. Following the transaction, the chief financial officer now directly owns 373,993 shares in the company, valued at approximately $67,228,981.68. This trade represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 115,432 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company's stock, valued at $265,515. This trade represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 760,662 shares of company stock valued at $134,448,673 over the last quarter. 7.92% of the stock is 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.