DoorDash, Inc. (NASDAQ:DASH) Director Sells $6,525,600.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the transaction, the director now directly owns 22,545 shares in the company, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

DoorDash Stock Performance

DASH opened at $217.49 on Tuesday. The company’s 50-day simple moving average is $192.53 and its two-hundred day simple moving average is $186.84. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $220.88. The stock has a market capitalization of $92.16 billion, a P/E ratio of 805.52 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DASH. UBS Group decreased their target price on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Piper Sandler reissued a “neutral” rating and set a $210.00 price objective (up from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. DA Davidson boosted their price objective on shares of DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Bank of America reduced their price objective on shares of DoorDash from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company reduced their price objective on shares of DoorDash from $201.00 to $198.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.97.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently made changes to their positions in DASH. Brighton Jones LLC lifted its stake in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. Spire Wealth Management increased its holdings in DoorDash by 67.2% in the 4th quarter. Spire Wealth Management now owns 637 shares of the company’s stock worth $107,000 after acquiring an additional 256 shares in the last quarter. Yousif Capital Management LLC increased its holdings in DoorDash by 2.7% in the 4th quarter. Yousif Capital Management LLC now owns 4,484 shares of the company’s stock worth $752,000 after acquiring an additional 118 shares in the last quarter. Choreo LLC increased its holdings in DoorDash by 6.3% in the 4th quarter. Choreo LLC now owns 4,894 shares of the company’s stock worth $830,000 after acquiring an additional 291 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in DoorDash by 2.0% in the 4th quarter. Bleakley Financial Group LLC now owns 7,468 shares of the company’s stock worth $1,253,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

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.