Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CEO Sells $18,443,523.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. This represents a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tony Xu also recently made the following trade(s):

• On Tuesday, October 15th, Tony Xu sold 81,249 shares of DoorDash stock. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63.
• On Monday, September 23rd, Tony Xu sold 54,166 shares of DoorDash stock. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96.

DoorDash Trading Up 0.8 %

DASH stock opened at $173.65 on Friday. The firm has a market cap of $72.13 billion, a PE ratio of -385.88, a price-to-earnings-growth ratio of 14.82 and a beta of 1.67. The stock has a 50-day moving average price of $152.69 and a 200-day moving average price of $128.46. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during 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 for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

DASH has been the subject of several recent analyst reports. Benchmark upped their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Raymond James initiated coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective on the stock. KeyCorp boosted their target price on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Mizuho raised their price target on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Susquehanna upped their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. increased its stake in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the period. Headlands Technologies LLC acquired a new position in DoorDash during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in 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 in the last quarter. Finally, Quest Partners LLC grew its stake in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds 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.