Illinois Municipal Retirement Fund Has $14.38 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Illinois Municipal Retirement Fund lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 207.0% during the second quarter, Holdings Channel.com reports. The fund owned 132,185 shares of the company’s stock after buying an additional 89,123 shares during the period. Illinois Municipal Retirement Fund’s holdings in DoorDash were worth $14,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DASH. Spire Wealth Management bought a new position in DoorDash during the first quarter worth about $25,000. Versant Capital Management Inc grew its holdings in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. ORG Partners LLC grew its holdings in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the period. First Horizon Advisors Inc. grew its holdings in DoorDash by 141.1% during the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares during the period. Finally, Fifth Third Bancorp grew its holdings in DoorDash by 136.4% during the second quarter. Fifth Third Bancorp now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 2.2 %

NASDAQ:DASH traded down $2.79 during trading hours on Friday, hitting $123.56. 2,343,413 shares of the company were exchanged, compared to its average volume of 4,002,546. The stock has a market capitalization of $50.53 billion, a price-to-earnings ratio of -114.41, a price-to-earnings-growth ratio of 768.41 and a beta of 1.69. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34. The company has a fifty day simple moving average of $116.66 and a 200 day simple moving average of $120.96.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) earnings per share.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DASH. JMP Securities lifted their price target on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on DoorDash in a report on Thursday. They set an “overweight” rating and a $160.00 price objective for the company. Truist Financial boosted their price objective on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Susquehanna boosted their price objective on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.57.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $111.96, for a total transaction of $5,598,000.00. Following the completion of the sale, the director now directly owns 39,275 shares in the company, valued at approximately $4,397,229. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $111.96, for a total transaction of $5,598,000.00. Following the completion of the sale, the director now directly owns 39,275 shares in the company, valued at approximately $4,397,229. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 6,554 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $706,193.50. Following the sale, the insider now owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 436,359 shares of company stock worth $48,534,873. Company insiders own 7.92% of the company’s stock.

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.