DoorDash (NASDAQ:DASH) Sees Unusually-High Trading Volume

Shares of DoorDash, Inc. (NASDAQ:DASH) saw unusually-high trading volume on Wednesday . Approximately 2,571,279 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 3,945,460 shares.The stock last traded at $131.49 and had previously closed at $129.88.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Needham & Company LLC lifted their target price on DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. KeyCorp began coverage on shares of DoorDash in a report on Thursday, July 11th. They set a “sector weight” rating on the stock. Evercore ISI increased their target price on shares of DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Oppenheimer boosted their price target on shares of DoorDash from $125.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial increased their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $142.57.

DoorDash Stock Up 2.1 %

The stock has a market cap of $54.21 billion, a PE ratio of -120.26, a P/E/G ratio of 275.59 and a beta of 1.69. The firm has a 50-day simple moving average of $119.09 and a 200-day simple moving average of $121.32.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the company posted ($0.44) EPS. On average, research analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In other news, insider Keith Yandell sold 6,554 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the transaction, the insider now directly owns 155,097 shares in the company, valued at approximately $16,711,701.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Keith Yandell sold 6,554 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the transaction, the insider now owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently modified their holdings of DASH. Janus Henderson Group PLC boosted its stake in DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares in the last quarter. Norges Bank purchased a new stake in shares of DoorDash in the 4th quarter valued at $264,806,000. Vanguard Group Inc. grew its holdings in shares of DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in DoorDash by 294.5% in the 4th quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after purchasing an additional 1,200,181 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Company Profile

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.