Stanley Tang Sells 50,000 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.34, for a total value of $8,517,000.00. Following the sale, the director now directly owns 35,413 shares of the company’s stock, valued at $6,032,250.42. The trade was a 58.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Stanley Tang also recently made the following trade(s):

• On Monday, December 2nd, Stanley Tang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $176.88, for a total transaction of $8,844,000.00.
• On Wednesday, November 20th, Stanley Tang sold 1,855 shares of DoorDash stock. The stock was sold at an average price of $169.98, for a total transaction of $315,312.90.

DoorDash Price Performance

DASH stock opened at $174.96 on Friday. The company has a market cap of $72.68 billion, a price-to-earnings ratio of -388.80, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. The company has a fifty day moving average price of $171.36 and a 200 day moving average price of $141.72. DoorDash, Inc. has a 12 month low of $93.33 and a 12 month high of $181.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned ($0.19) earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. As a group, analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on DASH. The Goldman Sachs Group upped their price target on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Mizuho lifted their target price on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC lifted their price objective on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $171.42.

Institutional Trading of DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Commonwealth Equity Services LLC lifted its holdings in shares of DoorDash by 34.5% during the second quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock worth $683,000 after purchasing an additional 1,611 shares during the period. Rhumbline Advisers lifted its stake in shares of DoorDash by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock worth $44,585,000 after acquiring an additional 13,639 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of DoorDash by 2.5% in the second quarter. Victory Capital Management Inc. now owns 263,873 shares of the company’s stock valued at $28,704,000 after acquiring an additional 6,459 shares in the last quarter. Arizona State Retirement System increased its stake in shares of DoorDash by 10.0% during the second quarter. Arizona State Retirement System now owns 81,919 shares of the company’s stock worth $8,911,000 after acquiring an additional 7,444 shares during the period. Finally, Private Advisor Group LLC raised its holdings in DoorDash by 15.1% during the second quarter. Private Advisor Group LLC now owns 17,062 shares of the company’s stock worth $1,856,000 after purchasing an additional 2,232 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.