Investors Purchase High Volume of DoorDash Call Options (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) saw some unusual options trading on Wednesday. Stock traders acquired 72,388 call options on the stock. This is an increase of approximately 291% compared to the typical daily volume of 18,520 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of DoorDash from $326.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Jefferies Financial Group upgraded DoorDash from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays cut their price target on DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Benchmark lifted their price target on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Wedbush raised DoorDash from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $260.00 in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $276.94.

Insiders Place Their Bets

In other news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $243.32, for a total value of $7,299,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 51,250 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $258.26, for a total transaction of $13,235,825.00. Following the sale, the chief executive officer owned 1,500 shares of the company’s stock, valued at approximately $387,390. This represents a 97.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 499,707 shares of company stock worth $127,140,411 over the last quarter. Company insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DASH. Saudi Central Bank bought a new stake in shares of DoorDash in the first quarter worth $25,000. WPG Advisers LLC acquired a new position in shares of DoorDash during the 1st quarter worth about $26,000. Physician Wealth Advisors Inc. grew its holdings in shares of DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in shares of DoorDash in the first quarter valued at about $27,000. Finally, GFG Capital LLC acquired a new stake in shares of DoorDash in the second quarter valued at about $30,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

DASH stock traded down $8.40 during mid-day trading on Wednesday, reaching $203.68. 5,148,220 shares of the stock traded hands, compared to its average volume of 4,529,658. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $252.45 and a two-hundred day moving average of $238.61. DoorDash has a 52 week low of $155.40 and a 52 week high of $285.50. The firm has a market capitalization of $87.78 billion, a PE ratio of 103.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. As a group, equities analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

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.