DoorDash, Inc. (NASDAQ:DASH) Short Interest Update

DoorDash, Inc. (NASDAQ:DASH) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 13,420,000 shares, a growth of 34.2% from the February 28th total of 10,000,000 shares. Based on an average daily trading volume, of 5,320,000 shares, the short-interest ratio is presently 2.5 days. Currently, 3.5% of the shares of the stock are short sold.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.34, for a total value of $8,517,000.00. Following the transaction, the director now owns 35,413 shares of the company’s stock, valued at $6,032,250.42. This represents a 58.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of DoorDash stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $196.52, for a total value of $2,891,791.80. Following the sale, the chief financial officer now directly owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This trade represents a 4.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,445 shares of company stock valued at $62,258,130 in the last quarter. Insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors have recently bought and sold shares of DASH. Wealth Enhancement Advisory Services LLC grew its holdings in shares of DoorDash by 234.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 38,990 shares of the company’s stock valued at $6,541,000 after buying an additional 27,330 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in DoorDash in the 4th quarter worth about $16,876,000. Centaurus Financial Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $137,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in DoorDash during the 4th quarter valued at $41,951,000. Finally, Employees Retirement System of Texas grew its holdings in shares of DoorDash by 22.0% in the fourth quarter. Employees Retirement System of Texas now owns 47,529 shares of the company’s stock worth $7,973,000 after acquiring an additional 8,577 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 0.1 %

NASDAQ DASH opened at $182.77 on Tuesday. DoorDash has a 12 month low of $99.32 and a 12 month high of $215.25. The stock’s fifty day moving average price is $192.17 and its 200-day moving average price is $172.76. The stock has a market cap of $76.78 billion, a P/E ratio of 676.93 and a beta of 1.70.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DASH. The Goldman Sachs Group boosted their price objective on shares of DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Roth Mkm boosted their price target on shares of DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Citigroup reaffirmed a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Benchmark boosted their target price on DoorDash from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Wolfe Research raised their price target on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $207.21.

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.