Insider Selling: DoorDash (NASDAQ:DASH) Director Sells 72,367 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 72,367 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the sale, the director owned 10,361 shares in the company, valued at approximately $2,332,882.76. The trade was a 87.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stanley Tang also recently made the following trade(s):

• On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The stock was sold at an average price of $225.00, for a total value of $2,249,775.00.
• On Thursday, August 20th, Stanley Tang sold 2,160 shares of DoorDash stock. The shares were sold at an average price of $220.62, for a total value of $476,539.20.
• On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The stock was sold at an average price of $200.63, for a total value of $13,581,246.59.
• On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The stock was sold at an average price of $191.19, for a total value of $4,421,268.75.

DoorDash Stock Up 2.5%

DoorDash stock traded up $5.57 during midday trading on Monday, reaching $229.06. The stock had a trading volume of 3,659,668 shares, compared to its average volume of 4,788,734. The firm’s fifty day simple moving average is $192.75 and its 200-day simple moving average is $175.21. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The stock has a market capitalization of $99.25 billion, a P/E ratio of 119.93 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. As a group, analysts expect that DoorDash, Inc. will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America reissued a “buy” rating on shares of DoorDash in a research report on Thursday, August 6th. KeyCorp decreased their price objective on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. UBS Group lifted their target price on DoorDash from $223.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Benchmark reduced their price target on DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, Rothschild & Co Redburn set a $350.00 price target on DoorDash in a research report on Tuesday, May 12th. Twenty-three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $254.53.

Institutional Trading of DoorDash

Institutional investors and hedge funds have recently bought and sold shares of the business. MV Capital Management Inc. bought a new position in shares of DoorDash during the 4th quarter worth approximately $26,000. Washington Trust Advisors Inc. lifted its holdings in DoorDash by 81.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Swiss RE Ltd. acquired a new stake in DoorDash during the 4th quarter valued at $28,000. ST Germain D J Co. Inc. bought a new position in DoorDash during the fourth quarter worth $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at $32,000. Institutional investors own 90.64% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.