DoorDash (NASDAQ:DASH) Director Stanley Tang Sells 72,367 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 72,367 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72. Following the completion of the transaction, the director directly owned 10,361 shares in the company, valued at approximately $2,332,882.76. This represents a 87.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 9,999 shares of DoorDash stock. The stock was sold at an average price of $225.00, for a total transaction of $2,249,775.00.
• On Thursday, August 20th, Stanley Tang sold 2,160 shares of DoorDash stock. The stock was sold at an average price of $220.62, for a total value of $476,539.20.
• On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The stock was 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 stock was sold at an average price of $191.19, for a total value of $4,421,268.75.

DoorDash Stock Performance

DASH traded up $5.57 during trading on Monday, hitting $229.06. The stock had a trading volume of 3,659,668 shares, compared to its average volume of 4,788,734. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day moving average price of $192.75 and a 200-day moving average price of $175.21. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The firm has a market cap of $99.25 billion, a price-to-earnings ratio of 119.93 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. As a group, research analysts predict that DoorDash, Inc. will post 2.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its holdings in shares of DoorDash by 16,825.6% in the second quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock worth $19,101,838,000 after acquiring an additional 102,904,566 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of DoorDash by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock valued at $9,835,229,000 after purchasing an additional 713,571 shares during the last quarter. SC US Ttgp LTD. increased its position in DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock worth $7,176,387,000 after purchasing an additional 506,358 shares in the last quarter. Morgan Stanley increased its position in DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock worth $3,971,741,000 after purchasing an additional 391,596 shares in the last quarter. Finally, State Street Corp lifted its stake in DoorDash by 3.0% in the 4th quarter. State Street Corp now owns 15,761,072 shares of the company’s stock valued at $3,569,568,000 after purchasing an additional 464,448 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the subject of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $220.00 price objective (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. KeyCorp reduced their target price on DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Wedbush upped their price objective on shares of DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, DA Davidson reduced their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Twenty-three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company 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.