Traders Purchase Large Volume of Call Options on DoorDash (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the recipient of some unusual options trading on Tuesday. Traders purchased 82,674 call options on the company. This is an increase of approximately 444% compared to the typical daily volume of 15,188 call options.

DoorDash Stock Down 0.4 %

DASH traded down $0.58 during trading on Tuesday, reaching $142.15. 1,523,725 shares of the company’s stock were exchanged, compared to its average volume of 3,925,028. DoorDash has a fifty-two week low of $69.90 and a fifty-two week high of $146.36. The company has a market capitalization of $58.13 billion, a P/E ratio of -132.16, a PEG ratio of 295.70 and a beta of 1.69. The business has a 50 day moving average price of $125.87 and a 200 day moving average price of $121.89.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.44) EPS. As a group, research analysts forecast that DoorDash will post 0.01 EPS for the current year.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, September 23rd. The stock was 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 Securities & Exchange Commission, which is available at this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,503 shares of company stock valued at $33,988,063. 7.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Meeder Asset Management Inc. increased its stake in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash in the 2nd quarter valued at about $32,000. Versant Capital Management Inc raised its stake in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC lifted its position in shares of 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 in the last quarter. Finally, Quest Partners LLC grew its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DASH shares. Wells Fargo & Company raised their price objective on DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wolfe Research started coverage on shares of DoorDash in a research note on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price objective on the stock. DA Davidson lifted their target price on DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Piper Sandler reissued a “neutral” rating and issued a $125.00 price target (up previously from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Finally, Barclays increased their target price on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $146.44.

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.