Insider Selling: DoorDash, Inc. (NASDAQ:DASH) Director Sells $8,500,500.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Friday, January 10th. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00. Following the sale, the director now directly owns 16,176 shares of the company’s stock, valued at $2,750,081.76. This represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, January 13th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00.
• On Monday, December 16th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $178.66, for a total value of $8,933,000.00.
• On Thursday, December 12th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $176.66, for a total value of $8,833,000.00.
• 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 value of $8,633,500.00.

DoorDash Stock Down 0.2 %

Shares of DASH opened at $170.85 on Friday. The business’s 50 day moving average price is $173.54 and its 200-day moving average price is $145.09. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $181.78. The stock has a market cap of $70.97 billion, a P/E ratio of -379.67, a P/E/G ratio of 1.77 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm posted ($0.19) EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research reports. Susquehanna raised their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Loop Capital raised their price target on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley raised their price target on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on DoorDash from $150.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, UBS Group lifted their price objective on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.97.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC raised its stake in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after buying an additional 1,246,567 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in DoorDash by 216.1% during 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 buying an additional 739,961 shares during the last quarter. Janus Henderson Group PLC raised its stake in DoorDash by 14.5% during 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 last quarter. Finally, Thrivent Financial for Lutherans raised its stake in DoorDash by 5,396.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after buying an additional 651,525 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.