DoorDash (NASDAQ:DASH) Sees Large Volume Increase – What’s Next?

DoorDash, Inc. (NASDAQ:DASH) shares saw strong trading volume on Wednesday . 2,855,532 shares traded hands during trading, a decline of 30% from the previous session’s volume of 4,106,646 shares.The stock last traded at $182.25 and had previously closed at $183.73.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DASH shares. Royal Bank of Canada raised their price target on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. KeyCorp boosted their target price on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $240.00 price target (up from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research report on Monday. Finally, Mizuho upped their price objective on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $206.52.

DoorDash Trading Down 5.0 %

The stock has a market capitalization of $74.90 billion, a price-to-earnings ratio of 660.33 and a beta of 1.70. The business has a 50 day simple moving average of $187.66 and a 200-day simple moving average of $166.78.

Insiders Place Their Bets

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. The trade was a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Keith Yandell sold 8,116 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the completion of the transaction, the insider now directly owns 105,162 shares in the company, valued at approximately $21,395,208.90. This represents a 7.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 522,062 shares of company stock valued at $92,218,440 over the last quarter. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after acquiring an additional 317,502 shares in the last quarter. Capital World Investors increased its stake in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the period. State Street Corp lifted its holdings in DoorDash by 3.8% in the 3rd quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after buying an additional 272,659 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after acquiring an additional 949,414 shares during the last quarter. Hedge funds and other institutional investors 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.