Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CEO Sells $20,432,618.32 in Stock

DoorDash, Inc. (NASDAQ:DASH) CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $265,515. This trade represents a 98.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tony Xu also recently made the following trade(s):

• On Tuesday, November 26th, Tony Xu sold 108,334 shares of DoorDash stock. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38.
• On Friday, November 15th, Tony Xu sold 108,332 shares of DoorDash stock. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00.
• On Tuesday, October 15th, Tony Xu sold 81,249 shares of DoorDash stock. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63.
• On Monday, September 23rd, Tony Xu sold 54,166 shares of DoorDash stock. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96.

DoorDash Stock Performance

NASDAQ:DASH opened at $178.48 on Friday. The company has a 50-day moving average of $161.58 and a 200-day moving average of $133.21. DoorDash, Inc. has a 52 week low of $93.33 and a 52 week high of $181.30. The company has a market capitalization of $74.14 billion, a price-to-earnings ratio of -396.62, a PEG ratio of 13.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent research reports. Needham & Company LLC raised their price target on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Mizuho lifted their target price on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, September 19th. BMO Capital Markets raised their price target on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Ten equities research 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 company presently has an average rating of “Moderate Buy” and an average target price of $167.27.

Hedge Funds Weigh In On DoorDash

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

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.