Ravi Inukonda Sells 14,219 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 14,219 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the transaction, the chief financial officer now directly owns 380,993 shares in the company, valued at approximately $64,761,190.14. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ravi Inukonda also recently made the following trade(s):

• On Friday, August 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00.

DoorDash Stock Up 2.4 %

Shares of NASDAQ DASH opened at $177.24 on Friday. The firm’s 50-day simple moving average is $153.61 and its 200 day simple moving average is $128.96. The stock has a market cap of $73.62 billion, a P/E ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business posted ($0.19) EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently modified their holdings of the company. Tri Ri Asset Management Corp acquired a new stake in shares of DoorDash in the third quarter valued at $6,250,000. Teachers Retirement System of The State of Kentucky lifted its holdings in DoorDash by 3.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 161,200 shares of the company’s stock valued at $23,007,000 after acquiring an additional 5,250 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in shares of DoorDash during the 3rd quarter valued at about $239,000. Geode Capital Management LLC grew its stake in shares of DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares during the last quarter. Finally, Sender Co & Partners Inc. bought a new stake in shares of DoorDash in the 3rd quarter worth approximately $1,460,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DASH shares. Bank of America lifted their target price on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on DoorDash from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. DA Davidson lifted their price target on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Evercore ISI increased their price objective on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $164.03.

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.