DoorDash, Inc. (NASDAQ:DASH) Short Interest Up 8.0% in June

DoorDash, Inc. (NASDAQ:DASH) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 14,460,000 shares, a growth of 8.0% from the May 31st total of 13,390,000 shares. Based on an average daily volume of 3,870,000 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DASH. Benchmark decreased their price objective on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. JMP Securities lowered their price target on DoorDash from $160.00 to $140.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Roth Mkm reduced their price objective on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $137.00 price objective on shares of DoorDash in a report on Thursday, May 2nd. Finally, Citigroup upped their target price on shares of DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $134.79.

DoorDash Trading Up 0.2 %

DoorDash stock opened at $107.62 on Thursday. The stock has a 50-day simple moving average of $114.41 and a 200 day simple moving average of $117.37. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the firm earned ($0.41) EPS. The firm’s revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash will post 0.11 earnings per share for the current year.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 8,000 shares of DoorDash stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.61, for a total value of $860,880.00. Following the completion of the transaction, the chief operating officer now owns 1,002,787 shares in the company, valued at $107,909,909.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Prabir Adarkar sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.61, for a total transaction of $860,880.00. Following the transaction, the chief operating officer now owns 1,002,787 shares in the company, valued at approximately $107,909,909.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 553,345 shares of company stock worth $66,416,801. 7.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after buying an additional 100,787 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of DoorDash during the fourth quarter worth approximately $769,000. Bank of Nova Scotia boosted its stake in DoorDash by 298.3% in the 4th quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after purchasing an additional 139,450 shares during the period. Finally, Franklin Resources Inc. increased its position in DoorDash by 294.5% during the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after buying an additional 1,200,181 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.