DoorDash, Inc. (NASDAQ:DASH) General Counsel Sells $2,201,241.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) General Counsel Tia Sherringham sold 12,950 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the completion of the transaction, the general counsel now owns 145,917 shares in the company, valued at approximately $24,802,971.66. This trade represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $4.07 during midday trading on Friday, reaching $177.24. The company had a trading volume of 3,231,646 shares, compared to its average volume of 3,800,685. The company has a fifty day simple moving average of $152.69 and a two-hundred day simple moving average of $128.46. The firm has a market cap of $73.63 billion, a price-to-earnings ratio of -385.88, a price-to-earnings-growth ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share 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 the consensus estimate of $2.66 billion. During the same period last year, the firm posted ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 0.24 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on DASH. Needham & Company LLC increased their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group lifted their target price on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, September 19th. Morgan Stanley raised their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America boosted their price objective on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.03.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its position in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares during the period. Baillie Gifford & Co. increased its holdings in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC lifted its position in shares of DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after purchasing an additional 763,579 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.