DoorDash (NASDAQ:DASH) CFO Ravi Inukonda Sells 16,044 Shares

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 16,044 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $228.55, for a total value of $3,666,856.20. Following the sale, the chief financial officer owned 217,911 shares in the company, valued at approximately $49,803,559.05. This trade represents a 6.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ravi Inukonda also recently made the following trade(s):

• On Thursday, August 20th, Ravi Inukonda sold 19,505 shares of DoorDash stock. The stock was sold at an average price of $220.62, for a total value of $4,303,193.10.
• On Wednesday, July 8th, Ravi Inukonda sold 19,095 shares of DoorDash stock. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80.

DoorDash Trading Down 1.9%

Shares of DASH opened at $222.00 on Friday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a market cap of $96.19 billion, a P/E ratio of 116.23 and a beta of 1.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $203.24 and its 200-day simple moving average is $178.31.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the business posted $0.65 EPS. DoorDash’s revenue was up 35.6% compared to the same quarter last year. As a group, analysts expect that DoorDash, Inc. will post 2.49 EPS for the current year.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Range Advisory LLC grew its position in shares of DoorDash by 27.0% in the 2nd quarter. Range Advisory LLC now owns 2,166 shares of the company’s stock worth $400,000 after buying an additional 461 shares during the last quarter. Brown Lisle Cummings Inc. increased its position in shares of DoorDash by 8,533.3% during the second quarter. Brown Lisle Cummings Inc. now owns 518 shares of the company’s stock worth $96,000 after purchasing an additional 512 shares in the last quarter. CYBER HORNET ETFs LLC lifted its holdings in shares of DoorDash by 1,052.5% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 11,836 shares of the company’s stock valued at $2,103,000 after purchasing an additional 10,809 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of DoorDash by 16,825.6% in the 2nd quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock worth $19,101,838,000 after purchasing an additional 102,904,566 shares in the last quarter. Finally, Greenland Capital Management LP acquired a new stake in shares of DoorDash in the 2nd quarter worth $246,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt initiated coverage with a Strong Buy rating, adding a favorable analyst view to DoorDash’s outlook and potentially supporting the stock’s valuation. Rosenblatt initiates coverage of DoorDash
• Positive Sentiment: DoorDash expanded its merchant and advertising ecosystem. Gap and Kohl’s are among retailers adding DoorDash delivery, while a partnership with Circana will provide independent validation of advertising-driven sales. Better measurement could make DoorDash’s retail-media business more attractive to consumer packaged goods advertisers. Retailers adding DoorDash delivery Circana and DoorDash advertising partnership
• Positive Sentiment: A new Live Nation partnership is designed to create food and fan-experience opportunities around live events, potentially adding engagement and order volume beyond DoorDash’s traditional restaurant business. DoorDash and Live Nation partnership
• Neutral Sentiment: Sands Capital Select Growth Fund sold its DoorDash position during the second quarter. The transaction may raise questions about institutional conviction, although it does not necessarily reflect DoorDash’s current operating outlook. Sands Capital sold DoorDash shares
• Negative Sentiment: Walmart is entering restaurant delivery through a new Dunkin’ partnership. The move could intensify competition with DoorDash and Uber Eats, particularly if Walmart uses its scale, customer base or delivery network to gain share. Walmart expands restaurant delivery
• Negative Sentiment: Multiple reports of problematic driver behavior and disputes over driver pay create potential reputational, customer-retention and regulatory risks, although the incidents appear isolated and DoorDash has removed or banned drivers involved in some cases. DoorDash delivery complaint DoorDash driver pay dispute

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DASH. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a report on Monday, August 24th. Susquehanna increased their target price on DoorDash from $225.00 to $250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Barclays downgraded DoorDash from an “equal weight” rating to a “strong sell” rating in a research report on Monday, August 24th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a research note on Tuesday, May 12th. Finally, Truist Financial raised their price target on shares of DoorDash from $330.00 to $336.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.97.

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.