Traders Buy High Volume of Call Options on DoorDash (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the recipient of unusually large options trading on Thursday. Traders bought 68,987 call options on the stock. This represents an increase of 306% compared to the average daily volume of 16,992 call options.

DoorDash Stock Up 0.6 %

Shares of DASH opened at $170.59 on Friday. DoorDash has a 52 week low of $83.58 and a 52 week high of $171.20. The company’s 50 day moving average price is $142.44 and its 200 day moving average price is $124.83.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, equities research analysts anticipate that DoorDash will post 0.23 earnings per share for the current year.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 324,539 shares of company stock worth $46,439,330 in the last three months. Corporate insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Capital World Investors boosted its stake in DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after purchasing an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in DoorDash by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after acquiring an additional 242,956 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of 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 during the last quarter. Finally, Dragoneer Investment Group LLC increased its stake in shares of DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after buying an additional 1,246,567 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DASH. JPMorgan Chase & Co. boosted their price target on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley lifted their price target on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Susquehanna increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. UBS Group boosted their price target on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group raised their target price on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $163.12.

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.