State of Michigan Retirement System Grows Position in DoorDash, Inc. $DASH

State of Michigan Retirement System grew its position in DoorDash, Inc. (NASDAQ:DASH) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,100 shares of the company’s stock after acquiring an additional 6,900 shares during the quarter. State of Michigan Retirement System’s holdings in DoorDash were worth $27,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DASH. Concord Wealth Partners bought a new stake in DoorDash in the third quarter worth $50,000. Prime Capital Investment Advisors LLC grew its stake in shares of DoorDash by 8.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,292 shares of the company’s stock worth $351,000 after buying an additional 100 shares in the last quarter. ABN AMRO Bank N.V. bought a new stake in shares of DoorDash in the 3rd quarter worth about $642,000. Flagship Harbor Advisors LLC raised its position in shares of DoorDash by 7.1% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,872 shares of the company’s stock valued at $509,000 after buying an additional 124 shares in the last quarter. Finally, Triglav Investments D.O.O. raised its position in shares of DoorDash by 18.0% during the 3rd quarter. Triglav Investments D.O.O. now owns 36,000 shares of the company’s stock valued at $9,792,000 after buying an additional 5,500 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

DASH stock opened at $182.47 on Friday. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The firm has a market cap of $78.64 billion, a price-to-earnings ratio of 92.62 and a beta of 1.77. The business’s fifty day simple moving average is $217.70 and its two-hundred day simple moving average is $236.47. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) 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). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the firm earned $0.38 earnings per share. DoorDash’s quarterly revenue was up 27.3% on a year-over-year basis. Analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DASH shares. Cantor Fitzgerald boosted their price objective on DoorDash from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Morgan Stanley lifted their target price on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Bank of America cut their target price on DoorDash from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. DA Davidson restated a “neutral” rating and issued a $260.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Finally, KeyCorp dropped their price objective on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $279.09.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Major Super Bowl marketing push — DoorDash launched its “Big Beef” / “Beef 101” campaign starring 50 Cent, a high?visibility ad buy that should boost brand awareness and order volume around a peak spending moment. DoorDash’s Super Bowl LX ad ‘Beef 101’
• Positive Sentiment: Payment expansion increases addressable market — DoorDash expanded SNAP/EBT acceptance to additional grocers and retailers (Wegmans, CVS, Lowes Foods, Rouses, Dierbergs), likely supporting more grocery/retail orders from lower?income households. DoorDash Expands SNAP/EBT Payment
• Positive Sentiment: Community and local PR — Project DASH delivered 500+ meals to Queens Medicaid recipients, reinforcing local goodwill and corporate social responsibility. Project DASH to the rescue
• Neutral Sentiment: Analyst coverage mostly constructive — Sell?side firms continue to lean buy/outperform despite some target trims, signaling confidence in long?term monetization even as DoorDash invests. Buy Rating Upheld
• Neutral Sentiment: Consumer features and lifestyle coverage — Gift guides and opinion pieces keep the brand top?of?mind but are unlikely to move fundamentals materially. Last-Minute DoorDash Gifts
• Negative Sentiment: Significant insider selling — Co?founder/director Stanley Tang sold ~45,410 shares (~$9.49M at reported prices) in early February; a director (Ashley Still) also sold a small parcel. Large insider sales can increase perceived supply and pressure sentiment. Stanley Tang Form 4 (SEC) Ashley Still Form 4 (SEC)
• Negative Sentiment: Isolated delivery incident and local PR risk — A reported customer incident caught on camera is a reminder of operational/quality control risks; isolated now but could matter if incidents accumulate. Toledo delivery incident

Insider Activity

In other news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $222.52, for a total value of $6,675,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total value of $56,539,896.40. Following the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 602,885 shares of company stock valued at $124,282,480. 5.83% of the stock is currently owned by corporate insiders.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.