DoorDash, Inc. (NASDAQ:DASH) Sees Significant Growth in Short Interest

DoorDash, Inc. (NASDAQ:DASH) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 11,730,000 shares, a growth of 8.2% from the August 15th total of 10,840,000 shares. Based on an average daily volume of 4,050,000 shares, the days-to-cover ratio is currently 2.9 days.

DoorDash Price Performance

NASDAQ:DASH opened at $130.87 on Tuesday. The company’s 50-day moving average is $119.09 and its two-hundred day moving average is $121.32. DoorDash has a 1-year low of $69.90 and a 1-year high of $143.34. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of -121.18, a PEG ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company posted ($0.44) earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. As a group, equities analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The disclosure for this sale can be found here. Insiders sold 304,769 shares of company stock valued at $34,760,113 in the last quarter. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of DASH. Brighton Jones LLC increased its position in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after acquiring an additional 82 shares during the last quarter. Everhart Financial Group Inc. raised its position in DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after purchasing an additional 99 shares during the period. Hillsdale Investment Management Inc. lifted its stake in DoorDash by 1.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 6,540 shares of the company’s stock worth $647,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of DoorDash by 17.2% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $101,000 after buying an additional 108 shares during the period. Finally, E Fund Management Co. Ltd. grew its stake in shares of DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after buying an additional 111 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DASH has been the subject of several research analyst reports. Barclays raised their price objective on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research report on Friday, August 2nd. Truist Financial upped their price objective on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.57.

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.