DoorDash, Inc. (NASDAQ:DASH) CEO Sells $19,363,261.68 in Stock

DoorDash, Inc. (NASDAQ:DASH) CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total transaction of $19,363,261.68. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $268,110. This represents a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 2nd, Tony Xu sold 115,432 shares of DoorDash stock. The shares were sold at an average price of $177.01, for a total transaction of $20,432,618.32.
• On Tuesday, November 26th, Tony Xu sold 108,334 shares of DoorDash stock. The shares were sold at an average price of $180.07, for a total value 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 value 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 value 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 transaction of $7,586,489.96.

DoorDash Price Performance

Shares of DASH opened at $171.00 on Friday. The firm’s 50 day moving average is $167.59 and its 200-day moving average is $137.52. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.78. The stock has a market capitalization of $71.03 billion, a P/E ratio of -380.00, a P/E/G ratio of 13.56 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. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On DoorDash

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position 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 purchasing an additional 1,645,186 shares during the period. State Street Corp boosted its holdings in shares of 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 buying an additional 272,659 shares during the period. Janus Henderson Group PLC increased its position in shares of DoorDash by 14.5% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of DoorDash by 6.4% during the third quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after acquiring an additional 267,855 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after acquiring an additional 501,905 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on DASH. Wells Fargo & Company increased their target price on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Susquehanna increased their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Benchmark lifted their price target on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup increased their price objective on shares of DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Piper Sandler lifted their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Nine 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.39.

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.