DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang Sells 50,000 Shares

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.66, for a total value of $8,933,000.00. Following the transaction, the director now owns 16,176 shares in the company, valued at $2,890,004.16. This trade represents a 75.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 13th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00.
• On Friday, January 10th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $170.01, for a total transaction of $8,500,500.00.
• On Thursday, December 12th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $176.66, for a total transaction of $8,833,000.00.
• On Monday, November 18th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00.

DoorDash Trading Up 0.6 %

DASH opened at $169.33 on Wednesday. The firm has a market cap of $70.34 billion, a price-to-earnings ratio of -376.29, a PEG ratio of 13.46 and a beta of 1.71. The stock’s 50-day moving average price is $173.31 and its 200 day moving average price is $144.48. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $181.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating 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 business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, research analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently modified their holdings of DASH. Baillie Gifford & Co. raised its stake in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares during the period. Allspring Global Investments Holdings LLC raised its position in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of DoorDash by 5,396.1% during the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after buying an additional 651,525 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DASH. Needham & Company LLC raised their target price on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Oppenheimer raised their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Loop Capital lifted their target price on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price target on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $174.30.

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.