Insider Selling: DoorDash, Inc. (NASDAQ:DASH) Director Sells 30,000 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the sale, the director now owns 22,545 shares of the company’s stock, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

DoorDash Stock Down 0.4%

NASDAQ:DASH traded down $0.96 during midday trading on Monday, hitting $217.49. The company had a trading volume of 2,709,550 shares, compared to its average volume of 4,205,241. The company has a market capitalization of $92.16 billion, a PE ratio of 805.52 and a beta of 1.67. The stock’s fifty day moving average price is $191.96 and its 200-day moving average price is $186.56. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $220.88.

DoorDash (NASDAQ:DASH) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. DoorDash’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after buying an additional 8,073,882 shares during the last quarter. Norges Bank purchased a new stake in DoorDash during the 4th quarter valued at about $597,443,000. Capital World Investors grew its position 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 acquiring an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the period. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DASH. Benchmark lifted their price objective on DoorDash from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on DoorDash from $201.00 to $198.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Truist Financial lifted their target price on shares of DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. KeyCorp decreased their target price on shares of DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.97.

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.