DoorDash, Inc. (NASDAQ:DASH) Short Interest Update

DoorDash, Inc. (NASDAQ:DASH) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 13,170,000 shares, an increase of 12.3% from the August 31st total of 11,730,000 shares. Based on an average trading volume of 4,060,000 shares, the short-interest ratio is currently 3.2 days.

DoorDash Price Performance

Shares of DASH stock traded down $0.79 during midday trading on Friday, reaching $142.23. 2,403,606 shares of the company traded hands, compared to its average volume of 3,945,963. The firm’s 50 day simple moving average is $125.10 and its two-hundred day simple moving average is $121.82. The firm has a market cap of $58.16 billion, a PE ratio of -131.69, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. DoorDash has a 1-year low of $69.90 and a 1-year high of $146.36.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the transaction, the insider now directly owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Insiders sold a total of 350,223 shares of company stock valued at $41,391,523 over the last three months. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Hedge funds have recently modified their holdings of the stock. Paragon Capital Management Inc. purchased a new stake in shares of DoorDash during the 2nd quarter valued at about $1,309,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of DoorDash during the second quarter worth $3,812,000. Sanctuary Advisors LLC purchased a new position in shares of DoorDash in the second quarter valued at $779,000. Dana Investment Advisors Inc. grew its holdings in DoorDash by 7.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 38,935 shares of the company’s stock valued at $4,235,000 after purchasing an additional 2,692 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in DoorDash by 0.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock worth $16,964,000 after buying an additional 605 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. Needham & Company LLC raised their price target on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JMP Securities lifted their target price on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $150.00 price target on shares of DoorDash in a report on Tuesday, July 30th. Wolfe Research started 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, Evercore ISI increased their target price on DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $145.97.

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.