DoorDash, Inc. (NASDAQ:DASH) CEO Tony Xu Sells 108,334 Shares

DoorDash, Inc. (NASDAQ:DASH) CEO Tony Xu sold 108,334 shares of DoorDash stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $270,105. This represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, November 15th, Tony Xu sold 108,332 shares of DoorDash stock. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00.
• On Tuesday, October 15th, Tony Xu sold 81,249 shares of DoorDash stock. The stock was 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 Price Performance

NASDAQ:DASH opened at $180.48 on Monday. The firm has a 50 day simple moving average of $158.11 and a 200-day simple moving average of $131.20. The firm has a market cap of $74.97 billion, a PE ratio of -401.07, a P/E/G ratio of 13.88 and a beta of 1.67. DoorDash, Inc. has a 1-year low of $92.58 and a 1-year high of $181.30.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, sell-side analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. grew its holdings 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 during the period. Headlands Technologies LLC purchased a new stake in DoorDash in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its holdings in 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 purchasing an additional 132 shares during the period. Versant Capital Management Inc grew its holdings in DoorDash by 340.8% in 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 during the period. Finally, Quest Partners LLC grew its holdings 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 purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. JMP Securities raised their price objective on shares of DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a report on Monday, October 7th. 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, UBS Group lifted their target price on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $166.06.

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.