DoorDash, Inc. (NASDAQ:DASH) Short Interest Update

DoorDash, Inc. (NASDAQ:DASH) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 13,170,000 shares, an increase of 12.3% from the August 31st total of 11,730,000 shares. Based on an average daily volume of 4,060,000 shares, the short-interest ratio is presently 3.2 days.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value 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 $2,109,499.74. The disclosure for this sale can be found here. Insiders sold a total of 350,223 shares of company stock worth $41,391,523 in the last three months. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Vanguard Group Inc. lifted its position in shares of DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares during the period. Baillie Gifford & Co. grew its holdings in DoorDash by 0.8% during the 2nd quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after acquiring an additional 94,241 shares during the period. Capital World Investors raised its position in shares of DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after acquiring an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of DoorDash by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after purchasing an additional 242,956 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

NASDAQ DASH traded down $0.79 on Friday, hitting $142.23. 2,403,606 shares of the stock were exchanged, compared to its average volume of 3,945,963. The company has a market capitalization of $58.16 billion, a PE ratio of -131.69, a P/E/G ratio of 295.70 and a beta of 1.69. The business’s fifty day moving average is $125.10 and its 200 day moving average is $121.82. DoorDash has a 52 week low of $69.90 and a 52 week high of $146.36.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities boosted their price target on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research report on Monday, September 23rd. BMO Capital Markets upped their price target on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.97.

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.