DoorDash, Inc. (NASDAQ:DASH) Short Interest Up 5.7% in December

DoorDash, Inc. (NASDAQ:DASH) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 10,260,000 shares, a growth of 5.7% from the November 30th total of 9,710,000 shares. Based on an average trading volume of 3,000,000 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analyst Weigh In

Several analysts have commented on DASH shares. BMO Capital Markets raised their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Mizuho raised their target price on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price target on DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Loop Capital raised their price objective on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.70.

Insider Buying and Selling at DoorDash

In related news, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 924,362 shares of company stock worth $156,181,429. 7.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. State Street Corp grew its position in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after purchasing an additional 272,659 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of DoorDash by 6.4% in the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after buying an additional 501,905 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $170.65 on Friday. The stock has a fifty day simple moving average of $170.94 and a two-hundred day simple moving average of $141.09. The firm has a market capitalization of $70.89 billion, a PE ratio of -379.22, a PEG ratio of 13.56 and a beta of 1.70. DoorDash has a 52-week low of $93.33 and a 52-week high of $181.78.

DoorDash (NASDAQ:DASH) last issued its 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. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned ($0.19) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that DoorDash will post 0.26 EPS for the current fiscal year.

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.