DoorDash (NASDAQ:DASH) Shares Down 4% After Insider Selling

DoorDash, Inc. (NASDAQ:DASH) dropped 4% on Wednesday after an insider sold shares in the company. The stock traded as low as $167.96 and last traded at $169.15. Approximately 1,642,301 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 3,796,251 shares. The stock had previously closed at $176.18.

Specifically, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at $255,375. This represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DASH. Truist Financial lifted their price objective on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC boosted their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark boosted their price target on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Roth Mkm lifted their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Stock Down 2.3 %

The firm has a market cap of $71.53 billion, a PE ratio of -382.67, a P/E/G ratio of 14.26 and a beta of 1.67. The firm’s fifty day simple moving average is $151.82 and its two-hundred day simple moving average is $128.14.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. As a group, analysts anticipate that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings 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 last quarter. State Street Corp grew its holdings in shares of DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after purchasing an additional 272,659 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after purchasing an additional 700,465 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of DoorDash by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after purchasing an additional 242,956 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.