DoorDash (NASDAQ:DASH) Trading Down 4% Following Insider Selling

DoorDash, Inc. (NASDAQ:DASH) shares traded down 4% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $167.96 and last traded at $169.15. 1,642,301 shares traded 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, CEO Tony Xu sold 108,332 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,375. This represents a 98.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

DASH has been the topic of several recent research reports. KeyCorp upped their price objective on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JMP Securities increased their price target on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Evercore ISI upped their target price on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price target on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.03.

DoorDash Price Performance

The stock has a market cap of $70.26 billion, a price-to-earnings ratio of -391.51, a PEG ratio of 14.26 and a beta of 1.67. The firm has a fifty day moving average of $150.98 and a 200 day moving average of $127.83.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned ($0.19) EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently bought and sold shares of DASH. Baillie Gifford & Co. grew its stake in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Capital World Investors lifted its holdings in DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after acquiring an additional 74,504 shares during the last quarter. State Street Corp grew its position in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after acquiring an additional 272,659 shares during the period. Janus Henderson Group PLC increased its stake in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after acquiring an additional 700,465 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in DoorDash by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after acquiring an additional 242,956 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.