DoorDash (NASDAQ:DASH) Shares Gap Down on Insider Selling

DoorDash, Inc. (NASDAQ:DASH) shares gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $127.46, but opened at $117.25. DoorDash shares last traded at $112.21, with a volume of 5,822,627 shares.

Specifically, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shona L. Brown sold 700 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now owns 71,514 shares in the company, valued at $7,845,800.94. The disclosure for this sale can be found here. Insiders sold a total of 487,782 shares of company stock valued at $64,046,807 in the last ninety days. Insiders own 9.59% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of recent analyst reports. Oppenheimer upped their price objective on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Needham & Company LLC reiterated a “buy” rating and issued a $137.00 price target on shares of DoorDash in a report on Thursday. UBS Group decreased their price objective on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company increased their target price on shares of DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Finally, Benchmark reduced their price objective on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Stock Down 0.4 %

The firm has a market cap of $45.98 billion, a price-to-earnings ratio of -105.84, a PEG ratio of 14.18 and a beta of 1.78. The firm has a fifty day moving average price of $132.02 and a 200-day moving average price of $109.87.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.38% and a negative net margin of 4.61%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) earnings per share. Equities research analysts anticipate that DoorDash, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently modified their holdings of the stock. Spire Wealth Management purchased a new position in DoorDash during the first quarter worth approximately $25,000. Fifth Third Bancorp boosted its holdings in DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares during the last quarter. Venturi Wealth Management LLC grew its position in DoorDash by 54.5% during the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after acquiring an additional 90 shares during the period. Parkside Financial Bank & Trust increased its stake in DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of DoorDash by 101.2% in the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock worth $40,000 after purchasing an additional 253 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Company Profile

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.