DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda Sells 7,000 Shares

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $109.30, for a total value of $765,100.00. Following the completion of the sale, the chief financial officer now owns 424,223 shares in the company, valued at approximately $46,367,573.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, May 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The shares were sold at an average price of $110.47, for a total transaction of $773,290.00.
• On Tuesday, April 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $130.95, for a total transaction of $916,650.00.

DoorDash Trading Down 1.0 %

DASH stock opened at $107.45 on Wednesday. The company has a market cap of $43.94 billion, a price-to-earnings ratio of -99.49, a PEG ratio of 27.50 and a beta of 1.67. The firm has a 50-day moving average of $114.79 and a two-hundred day moving average of $117.44. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) earnings per share. As a group, equities analysts forecast that DoorDash, Inc. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new position in DoorDash in the 3rd quarter valued at about $325,000. Schonfeld Strategic Advisors LLC acquired a new position in DoorDash in the third quarter valued at approximately $1,103,000. Kinetic Partners Management LP grew its position in DoorDash by 8.8% in the third quarter. Kinetic Partners Management LP now owns 960,612 shares of the company’s stock worth $76,340,000 after acquiring an additional 77,500 shares during the period. Scopus Asset Management L.P. acquired a new stake in DoorDash during the third quarter worth $19,868,000. Finally, Royal London Asset Management Ltd. raised its position in DoorDash by 6.7% in the third quarter. Royal London Asset Management Ltd. now owns 116,048 shares of the company’s stock valued at $9,223,000 after purchasing an additional 7,257 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Loop Capital began coverage on DoorDash in a research report on Friday, April 19th. They set a “buy” rating and a $170.00 price target on the stock. Oppenheimer boosted their price target on DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Moffett Nathanson raised shares of DoorDash from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $118.00 to $164.00 in a research note on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and set a $137.00 price target on shares of DoorDash in a report on Thursday, May 2nd. Finally, Benchmark cut their price objective on shares of DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.79.

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.