DoorDash (NASDAQ:DASH) CFO Ravi Inukonda Sells 1,017 Shares of Company Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 1,017 shares of the business’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $195.00, for a total value of $198,315.00. Following the completion of the sale, the chief financial officer directly owned 217,911 shares in the company, valued at $42,492,645. This represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Tuesday, September 1st, Ravi Inukonda sold 16,044 shares of DoorDash stock. The shares were sold at an average price of $228.55, for a total value of $3,666,856.20.
• On Thursday, August 20th, Ravi Inukonda sold 19,505 shares of DoorDash stock. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10.

DoorDash Trading Down 4.7%

Shares of DASH stock opened at $184.01 on Thursday. The stock has a 50-day simple moving average of $205.78 and a 200 day simple moving average of $183.57. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The stock has a market capitalization of $79.73 billion, a P/E ratio of 96.34 and a beta of 1.90. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. DoorDash’s revenue was up 35.6% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in DoorDash by 8.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,536,599 shares of the company’s stock valued at $1,247,961,000 after buying an additional 427,031 shares during the period. Temasek Holdings Private Ltd boosted its stake in shares of DoorDash by 49.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after buying an additional 1,145,078 shares during the period. Bank of America Corp DE boosted its stake in shares of DoorDash by 18.4% during the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock valued at $517,907,000 after buying an additional 536,080 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of DoorDash by 23.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,695,291 shares of the company’s stock valued at $383,950,000 after acquiring an additional 324,812 shares in the last quarter. Finally, Amundi grew its holdings in shares of DoorDash by 31.1% during the 1st quarter. Amundi now owns 2,315,722 shares of the company’s stock valued at $347,706,000 after acquiring an additional 549,387 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash is partnering with Woolworths Group to bring BIG W to its Australian marketplace, offering more than 35,000 everyday products with delivery in as little as 60 minutes. The agreement expands DoorDash’s retail selection and supports its strategy of increasing order frequency beyond restaurant delivery. BIG W Lands on DoorDash App
• Positive Sentiment: DoorDash launched an on-demand delivery collaboration with SKIMS, giving customers access to apparel and related products. The partnership, supported by Kim Kardashian-focused marketing, could improve consumer awareness of DoorDash’s non-food offerings. SKIMS and DoorDash Partnership
• Positive Sentiment: DoorDash is expanding into Geraldton, Kalgoorlie and Horsham in Australia, indicating continued investment in regional coverage and potential long-term marketplace growth. DoorDash Regional Australian Expansion

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of DoorDash in a research note on Thursday, September 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 target price on shares of DoorDash in a report on Thursday, August 6th. Jefferies Financial Group increased their target price on shares of DoorDash from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Rosenblatt Securities initiated coverage on shares of DoorDash in a research note on Tuesday, September 1st. They set a “buy” rating and a $270.00 target price for the company. Finally, Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.95.

About DoorDash

DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.

DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.