DoorDash (NASDAQ:DASH) Stock Price Down 2.6% After Insider Selling

Shares of DoorDash, Inc. (NASDAQ:DASH) dropped 2.6% on Tuesday after an insider sold shares in the company. The company traded as low as $126.90 and last traded at $127.42. Approximately 728,063 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,941,420 shares. The stock had previously closed at $130.87.

Specifically, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DASH shares. Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of DoorDash in a research report on Tuesday, July 30th. Barclays increased their price objective on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Piper Sandler restated a “neutral” rating and set a $125.00 target price (up from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, JMP Securities raised their price objective on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.57.

DoorDash Stock Down 2.6 %

The company has a market cap of $52.10 billion, a PE ratio of -121.18, a P/E/G ratio of 275.59 and a beta of 1.69. The stock’s 50 day simple moving average is $119.09 and its two-hundred day simple moving average is $121.32.

DoorDash (NASDAQ:DASH) last issued its earnings results 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). 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 was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.44) EPS. Analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current year.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently bought and sold shares of DASH. Sanctuary Advisors LLC acquired a new stake in shares of DoorDash in the second quarter worth $779,000. Dana Investment Advisors Inc. raised its position in DoorDash by 7.4% in the second quarter. Dana Investment Advisors Inc. now owns 38,935 shares of the company’s stock valued at $4,235,000 after purchasing an additional 2,692 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of DoorDash by 0.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock worth $16,964,000 after purchasing an additional 605 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of DoorDash by 7.2% in the second quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after buying an additional 788 shares during the period. Finally, Quarry LP acquired a new stake in shares of DoorDash in the second quarter valued at about $60,000. Institutional investors and hedge funds 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.