Insider Selling: DoorDash, Inc. (NASDAQ:DASH) Director Sells 50,000 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Andy Fang also recently made the following trade(s):

• On Monday, October 14th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00.
• On Thursday, October 10th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00.
• On Thursday, September 12th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00.

DoorDash Stock Up 0.8 %

NASDAQ DASH opened at $173.65 on Friday. The stock’s 50-day moving average price is $152.69 and its 200-day moving average price is $128.46. The company has a market capitalization of $72.13 billion, a P/E ratio of -385.88, a price-to-earnings-growth ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week 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 the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm posted ($0.19) EPS. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. Research analysts anticipate that DoorDash, Inc. will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on DASH. Bank of America boosted their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, September 19th. Barclays upped their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Piper Sandler lifted their target price on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. raised its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Headlands Technologies LLC bought a new stake in DoorDash in the 2nd quarter valued at $32,000. Meeder Asset Management Inc. lifted its stake in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Versant Capital Management Inc grew its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.