Andy Fang Sells 50,000 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $176.66, for a total value of $8,833,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at approximately $2,857,652.16. The trade was a 75.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 18th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00.
• On Monday, October 14th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00.
• On Thursday, October 10th, Andy Fang sold 50,000 shares of DoorDash stock. The stock was sold at an average price of $143.76, for a total transaction of $7,188,000.00.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $177.00 on Wednesday. The stock’s 50-day moving average is $166.24 and its 200-day moving average is $136.69. The company has a market cap of $73.53 billion, a P/E ratio of -393.33, a P/E/G ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $93.33 and a 52-week high of $181.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS 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 company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

Hedge Funds Weigh In On DoorDash

Several large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. grew its position in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash in the second quarter valued at about $32,000. Meeder Asset Management Inc. grew its position in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares in the last quarter. Quest Partners LLC increased its stake in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in DoorDash by 141.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after acquiring an additional 206 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent research reports. DA Davidson increased their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. KeyCorp lifted their price target on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, September 19th. Finally, Wells Fargo & Company lifted their target price on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.39.

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.