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 company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $176.66, for a total transaction of $8,833,000.00. Following the sale, the director now directly owns 16,176 shares in the company, valued at $2,857,652.16. This trade represents a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 transaction of $8,633,500.00.
• On Monday, October 14th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were 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.

DoorDash Stock Up 2.5 %

DASH traded up $4.36 during midday trading on Monday, hitting $179.45. 1,734,732 shares of the company were exchanged, compared to its average volume of 3,720,902. The firm has a market capitalization of $74.54 billion, a P/E ratio of -389.09, a P/E/G ratio of 13.56 and a beta of 1.70. The firm’s 50 day moving average price is $164.81 and its 200-day moving average price is $135.73. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.30.

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

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of DASH. Baillie Gifford & Co. grew its position in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the period. State Street Corp boosted its holdings in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after acquiring an additional 272,659 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in DoorDash by 14.5% in the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Geode Capital Management LLC grew its stake in DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after acquiring an additional 267,855 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of DoorDash by 15.2% during 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 in the last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler boosted their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Loop Capital upped their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Evercore ISI raised their target price on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Bank of America upped their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Citigroup raised their price objective on shares of DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.27.

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.