DoorDash, Inc. (NASDAQ:DASH) Director Sells $8,633,500.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Andy Fang also recently made the following trade(s):

• On Monday, October 14th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00.
• On Thursday, October 10th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $143.76, for a total value of $7,188,000.00.
• On Thursday, September 12th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00.

DoorDash Trading Up 2.4 %

DoorDash stock opened at $177.24 on Friday. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16. The firm has a market cap of $73.63 billion, a P/E ratio of -393.87, a P/E/G ratio of 14.82 and a beta of 1.67. The firm has a 50-day moving average of $153.61 and a 200-day moving average of $128.87.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business posted ($0.19) EPS. The business’s revenue was up 25.0% on a year-over-year basis. Research analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of DoorDash

Several large investors have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. lifted its position in shares of DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP lifted its holdings in DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after buying an additional 610,388 shares during the period. Forsta AP Fonden boosted its position in DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after acquiring an additional 10,100 shares in the last quarter. Baillie Gifford & Co. boosted its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after acquiring an additional 5,273 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Redburn Atlantic began coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research report on Wednesday, September 25th. Truist Financial boosted their target price on DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of DoorDash in a research report on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.03.

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.