DoorDash Target of Unusually Large Options Trading (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the target of unusually large options trading activity on Tuesday. Traders acquired 82,674 call options on the company. This represents an increase of 444% compared to the typical volume of 15,188 call options.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on DoorDash from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. JMP Securities lifted their target price on DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Monday. Evercore ISI upped their price target on shares of DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Redburn Atlantic initiated coverage on shares of DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target for the company. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.44.

DoorDash Stock Performance

Shares of DoorDash stock traded down $0.58 during trading hours on Tuesday, reaching $142.15. 1,523,725 shares of the company were exchanged, compared to its average volume of 3,925,028. The firm has a market cap of $58.13 billion, a PE ratio of -132.16, a PEG ratio of 295.70 and a beta of 1.69. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The stock’s fifty day moving average is $125.87 and its 200 day moving average is $121.89.

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

Insider Transactions at DoorDash

In related news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the transaction, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares in the company, valued at $7,822,320. The disclosure for this sale can be found here. Insiders sold a total of 281,503 shares of company stock valued at $33,988,063 over the last three months. Corporate insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC raised its holdings in shares of DoorDash by 4.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,015 shares of the company’s stock valued at $793,000 after buying an additional 320 shares during the last quarter. US Bancorp DE boosted its holdings in DoorDash by 9.1% in the 4th quarter. US Bancorp DE now owns 6,874 shares of the company’s stock valued at $680,000 after purchasing an additional 573 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of DoorDash during the 4th quarter worth approximately $466,000. California State Teachers Retirement System lifted its holdings in shares of DoorDash by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 421,102 shares of the company’s stock valued at $41,643,000 after buying an additional 8,158 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its stake in shares of DoorDash by 150.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 6,617 shares of the company’s stock valued at $654,000 after buying an additional 3,971 shares in the last quarter. 90.64% of the stock is 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.