Insider Selling: DoorDash, Inc. (NASDAQ:DASH) Director Sells $8,633,500.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 transaction of $7,188,000.00.
• On Thursday, September 12th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00.

DoorDash Price Performance

NASDAQ DASH opened at $177.24 on Friday. The business’s fifty day moving average is $153.61 and its 200-day moving average is $128.87. The stock has a market capitalization of $73.63 billion, a price-to-earnings ratio of -393.87, a PEG ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a one year low of $92.56 and a one year high of $178.16.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts expect that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. lifted its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Headlands Technologies LLC bought a new stake in DoorDash in the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. lifted its holdings in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Versant Capital Management Inc boosted its position in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares during the period. Finally, Quest Partners LLC increased its stake in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DASH shares. Royal Bank of Canada upped their target price on DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. DA Davidson lifted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $164.03.

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.