Insider Selling: DoorDash, Inc. (NYSE:DASH) Director Sells 67,000 Shares of Stock

DoorDash, Inc. (NYSE:DASH) Director Andy Fang sold 67,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $95.11, for a total transaction of $6,372,370.00. Following the completion of the sale, the director now directly owns 45,296 shares in the company, valued at $4,308,102.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Andy Fang also recently made the following trade(s):

• On Friday, October 13th, Andy Fang sold 67,000 shares of DoorDash stock. The stock was sold at an average price of $78.66, for a total transaction of $5,270,220.00.
• On Friday, September 8th, Andy Fang sold 67,000 shares of DoorDash stock. The stock was sold at an average price of $80.97, for a total transaction of $5,424,990.00.
• On Friday, August 25th, Andy Fang sold 67,000 shares of DoorDash stock. The shares were sold at an average price of $77.23, for a total transaction of $5,174,410.00.

DoorDash Stock Performance

Shares of NYSE:DASH traded up $0.52 during trading hours on Monday, reaching $95.75. The stock had a trading volume of 7,263,441 shares, compared to its average volume of 3,878,357. The firm’s 50 day moving average is $80.28 and its 200-day moving average is $77.67. DoorDash, Inc. has a 1 year low of $45.93 and a 1 year high of $96.01. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of -35.40 and a beta of 1.61.

DoorDash (NYSE:DASH) last issued its earnings results on Wednesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.26. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.09 billion. DoorDash had a negative net margin of 12.81% and a negative return on equity of 9.88%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.77) EPS. Analysts forecast that DoorDash, Inc. will post -1.26 EPS for the current year.

Hedge Funds Weigh In On DoorDash

Large investors have recently bought and sold shares of the company. Manchester Capital Management LLC purchased a new position in shares of DoorDash in the 1st quarter valued at about $25,000. Fifth Third Bancorp increased its holdings in DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after acquiring an additional 359 shares in the last quarter. Covestor Ltd increased its holdings in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after acquiring an additional 253 shares in the last quarter. Natixis purchased a new position in DoorDash during the 2nd quarter valued at about $52,000. Finally, Loomis Sayles & Co. L P increased its holdings in DoorDash by 1,274.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 701 shares of the company’s stock valued at $56,000 after acquiring an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of DoorDash from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Roth Mkm raised their target price on shares of DoorDash from $73.00 to $91.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. UBS Group raised their target price on shares of DoorDash from $70.00 to $100.00 in a research note on Thursday, August 3rd. JMP Securities raised their target price on shares of DoorDash from $100.00 to $113.00 and gave the company a “market outperform” rating in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DoorDash from $95.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has an average rating of “Hold” and a consensus price target of $94.18.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, 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; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.