DoorDash (NASDAQ:DASH) Stock Price Down 2.6% Following Insider Selling

Shares of DoorDash, Inc. (NASDAQ:DASH) were down 2.6% during trading on Tuesday following insider selling activity. The company traded as low as $126.90 and last traded at $127.42. Approximately 728,063 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,941,420 shares. The stock had previously closed at $130.87.

Specifically, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Argus started coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Wolfe Research began coverage on shares of DoorDash in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, KeyCorp started coverage on DoorDash in a report on Thursday, July 11th. They set a “sector weight” rating on the stock. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.57.

DoorDash Price Performance

The firm’s 50-day moving average price is $119.09 and its 200-day moving average price is $121.32. The stock has a market cap of $53.11 billion, a P/E ratio of -120.26, a PEG ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. Sell-side analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently added to or reduced their stakes in DASH. Janus Henderson Group PLC raised its stake in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. Norges Bank bought a new position in shares of DoorDash in the 4th quarter valued at about $264,806,000. Vanguard Group Inc. grew its position in DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after acquiring an additional 2,259,976 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after acquiring an additional 1,200,181 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

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.