DoorDash (NASDAQ:DASH) Director Sells $476,539.20 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 2,160 shares of DoorDash stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $476,539.20. Following the transaction, the director directly owned 38,058 shares of the company’s stock, valued at approximately $8,396,355.96. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stanley Tang also recently made the following trade(s):

• On Friday, August 21st, Stanley Tang sold 72,367 shares of DoorDash stock. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72.
• On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The shares were sold at an average price of $225.00, for a total transaction of $2,249,775.00.
• On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The shares were sold at an average price of $200.63, for a total value of $13,581,246.59.
• On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The shares were sold at an average price of $191.19, for a total value of $4,421,268.75.

DoorDash Price Performance

DoorDash stock traded up $5.57 during trading hours on Monday, reaching $229.06. 3,659,668 shares of the stock were exchanged, compared to its average volume of 4,788,734. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The company has a market cap of $99.25 billion, a P/E ratio of 119.93 and a beta of 1.78. The stock has a 50 day moving average of $192.75 and a two-hundred day moving average of $175.21. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities analysts expect that DoorDash, Inc. will post 2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC lifted its stake in shares of DoorDash by 1,052.5% in the second quarter. CYBER HORNET ETFs LLC now owns 11,836 shares of the company’s stock worth $2,103,000 after acquiring an additional 10,809 shares during the period. California State Teachers Retirement System raised its holdings in DoorDash by 16,825.6% during the 2nd quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock worth $19,101,838,000 after purchasing an additional 102,904,566 shares during the last quarter. Greenland Capital Management LP acquired a new position in shares of DoorDash in the 2nd quarter worth approximately $246,000. Washington Trust Advisors Inc. boosted its stake in shares of DoorDash by 81.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of DoorDash by 1.9% in the 2nd quarter. HB Wealth Management LLC now owns 7,584 shares of the company’s stock valued at $1,400,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group set a $280.00 target price on DoorDash in a report on Thursday, May 7th. Piper Sandler reissued a “neutral” rating and set a $220.00 price target (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Truist Financial upped their price objective on DoorDash from $330.00 to $336.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Benchmark dropped their price objective on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Jefferies Financial Group lifted their target price on shares of DoorDash from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twenty-three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.53.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.