Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CFO Sells $2,891,791.80 in Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 14,715 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the transaction, the chief financial officer now owns 338,055 shares of the company’s stock, valued at $66,434,568.60. This trade represents a 4.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ravi Inukonda also recently made the following trade(s):

• On Thursday, February 20th, Ravi Inukonda sold 15,198 shares of DoorDash stock. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78.
• On Friday, January 24th, Ravi Inukonda sold 1,425 shares of DoorDash stock. The shares were sold at an average price of $183.20, for a total transaction of $261,060.00.
• On Monday, December 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $169.32, for a total value of $1,185,240.00.

DoorDash Trading Down 5.9 %

DASH opened at $182.61 on Friday. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The stock has a fifty day moving average price of $192.00 and a 200-day moving average price of $171.77. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 676.33 and a beta of 1.70.

Wall Street Analyst Weigh In

DASH has been the subject of a number of recent research reports. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a report on Monday, March 10th. Loop Capital lifted their price objective on shares of DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Wedbush boosted their price objective on shares of DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Truist Financial raised their target price on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $240.00 price target (up from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $207.21.

Hedge Funds Weigh In On DoorDash

Large investors have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash in the 4th quarter valued at about $29,000. Denver PWM LLC purchased a new stake in DoorDash during the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC acquired a new stake in DoorDash in the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash in the fourth quarter worth $36,000. Finally, IFP Advisors Inc grew its holdings in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.