Prabir Adarkar Sells 20,000 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 20,000 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $168.53, for a total value of $3,370,600.00. Following the sale, the chief operating officer now directly owns 925,222 shares of the company’s stock, valued at approximately $155,927,663.66. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Prabir Adarkar also recently made the following trade(s):

• On Wednesday, November 20th, Prabir Adarkar sold 19,898 shares of DoorDash stock. The stock was sold at an average price of $169.98, for a total transaction of $3,382,262.04.
• On Tuesday, October 15th, Prabir Adarkar sold 32,124 shares of DoorDash stock. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76.

DoorDash Trading Down 1.1 %

NASDAQ:DASH traded down $1.85 during trading hours on Tuesday, hitting $167.75. The stock had a trading volume of 1,228,489 shares, compared to its average volume of 3,673,427. The business has a 50 day simple moving average of $169.95 and a two-hundred day simple moving average of $140.30. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.78. The company has a market cap of $69.68 billion, a PE ratio of -372.78, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) EPS. Research analysts expect that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DASH shares. Piper Sandler boosted their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Loop Capital raised their price target on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Truist Financial raised their target price on shares of DoorDash from $180.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after acquiring an additional 82 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after purchasing an additional 111 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in DoorDash by 39.0% in the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock valued at $61,000 after buying an additional 119 shares during the last quarter. Rakuten Securities Inc. raised its stake in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Hedge funds and other 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.