DoorDash Sees Unusually High Options Volume (NYSE:DASH)

DoorDash, Inc. (NYSE:DASHGet Rating) was the target of some unusual options trading on Thursday. Traders bought 28,483 put options on the company. This represents an increase of 30% compared to the typical volume of 21,976 put options.

Insider Activity

In other news, CFO Prabir Adarkar sold 62,051 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $63.76, for a total value of $3,956,371.76. Following the completion of the sale, the chief financial officer now directly owns 787,128 shares in the company, valued at $50,187,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Prabir Adarkar sold 62,051 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $63.76, for a total value of $3,956,371.76. Following the completion of the sale, the chief financial officer now directly owns 787,128 shares in the company, valued at $50,187,281.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gordon S. Lee sold 5,809 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $63.80, for a total value of $370,614.20. Following the completion of the sale, the chief accounting officer now owns 100,971 shares of the company’s stock, valued at $6,441,949.80. The disclosure for this sale can be found here. Insiders sold 131,034 shares of company stock worth $8,462,412 over the last three months. 15.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently bought and sold shares of the stock. IndexIQ Advisors LLC purchased a new position in DoorDash during the first quarter worth $32,000. CWM LLC grew its position in shares of DoorDash by 608.1% in the first quarter. CWM LLC now owns 439 shares of the company’s stock valued at $51,000 after purchasing an additional 377 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of DoorDash in the fourth quarter valued at $70,000. UMB Bank N A MO grew its position in shares of DoorDash by 68.3% in the first quarter. UMB Bank N A MO now owns 680 shares of the company’s stock valued at $80,000 after purchasing an additional 276 shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of DoorDash in the second quarter valued at $45,000. Hedge funds and other institutional investors own 80.51% of the company’s stock.

DoorDash Price Performance

DASH opened at $54.00 on Friday. The business has a 50 day simple moving average of $67.61 and a 200-day simple moving average of $77.81. The stock has a market capitalization of $20.85 billion, a P/E ratio of -27.69 and a beta of 1.24. DoorDash has a 12 month low of $53.73 and a 12 month high of $257.25.

DoorDash (NYSE:DASHGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.33). DoorDash had a negative net margin of 12.16% and a negative return on equity of 12.82%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the business earned ($0.30) earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. Research analysts anticipate that DoorDash will post -2.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DASH. Royal Bank of Canada boosted their price objective on DoorDash from $94.00 to $100.00 in a research note on Friday, August 5th. Needham & Company LLC upped their price target on DoorDash from $100.00 to $115.00 in a report on Friday, August 5th. Raymond James assumed coverage on DoorDash in a report on Monday, June 6th. They set a “market perform” rating on the stock. Truist Financial cut their price target on DoorDash from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. Finally, DA Davidson cut their price target on DoorDash from $135.00 to $82.00 and set a “neutral” rating on the stock in a report on Friday, June 3rd. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $131.70.

About DoorDash

(Get Rating)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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