DoorDash, Inc. (NASDAQ:DASH) Director Sells $8,833,000.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $176.66, for a total transaction of $8,833,000.00. Following the transaction, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,857,652.16. The trade was a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 18th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00.
• 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 shares were sold at an average price of $143.76, for a total value of $7,188,000.00.

DoorDash Stock Down 6.6 %

NASDAQ DASH opened at $165.39 on Thursday. The company has a 50-day simple moving average of $166.69 and a two-hundred day simple moving average of $136.89. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.78. The firm has a market cap of $68.70 billion, a price-to-earnings ratio of -367.53, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) EPS. Equities analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on DASH shares. Truist Financial boosted their target price on DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group boosted their price objective on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler lifted their target price on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Loop Capital boosted their price target on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $168.39.

Institutional Trading of DoorDash

A number of institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC raised its holdings in DoorDash by 1.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock valued at $107,064,000 after buying an additional 8,195 shares during the last quarter. Franklin Resources Inc. increased its position in shares of DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of DoorDash during the third quarter valued at about $6,250,000. Tidal Investments LLC boosted its holdings in shares of DoorDash by 19.9% during the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock worth $1,759,000 after purchasing an additional 2,049 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of DoorDash during the third quarter worth about $1,109,000. Hedge funds and other institutional investors 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.