DoorDash, Inc. (NASDAQ:DASH) Director Sells $8,416,000.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now owns 16,176 shares of the company’s stock, valued at approximately $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, January 10th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $170.01, for a total value of $8,500,500.00.
• On Monday, December 16th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $178.66, for a total value of $8,933,000.00.
• On Thursday, December 12th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $176.66, for a total value of $8,833,000.00.
• On Monday, November 18th, Andy Fang sold 50,000 shares of DoorDash stock. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00.

DoorDash Stock Up 0.6 %

NASDAQ DASH traded up $0.96 on Tuesday, reaching $169.33. The company had a trading volume of 2,262,057 shares, compared to its average volume of 2,342,083. The stock’s 50 day moving average is $173.31 and its 200-day moving average is $144.48. The stock has a market cap of $70.34 billion, a price-to-earnings ratio of -376.29, a PEG ratio of 13.46 and a beta of 1.71. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $181.78.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned ($0.19) earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On DoorDash

Several large investors have recently modified their holdings of the business. Rakuten Securities Inc. boosted its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. ORG Wealth Partners LLC acquired a new position in DoorDash during the fourth quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new position in DoorDash during the second quarter valued at approximately $32,000. Meeder Asset Management Inc. boosted its position in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Finally, Quest Partners LLC boosted its position 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 purchasing an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DASH. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, September 19th. Evercore ISI boosted their price objective on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wolfe Research boosted their price objective on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Oppenheimer boosted their price objective on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group boosted their price objective on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $174.30.

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.