DoorDash (NASDAQ:DASH) Shares Down 4% After Insider Selling

DoorDash, Inc. (NASDAQ:DASH) shares fell 4% on Wednesday following insider selling activity. The company traded as low as $167.96 and last traded at $169.15. 1,642,301 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 3,796,251 shares. The stock had previously closed at $176.18.

Specifically, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of research firms have recently commented on DASH. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Raymond James started coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price on the stock. Piper Sandler increased their price target on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Truist Financial increased their price target on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, UBS Group increased their price target on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

DoorDash Price Performance

The stock has a market cap of $71.53 billion, a price-to-earnings ratio of -382.67, a price-to-earnings-growth ratio of 14.26 and a beta of 1.67. The business’s 50-day simple moving average is $151.82 and its two-hundred day simple moving average is $128.14.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.19) earnings per share. Equities research analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. raised its stake in 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 last quarter. Meeder Asset Management Inc. raised its stake in DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new position in DoorDash during the second quarter worth $32,000. Versant Capital Management Inc raised its stake in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC raised its stake in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Company Profile

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.