DoorDash, Inc. (NASDAQ:DASH) Short Interest Update

DoorDash, Inc. (NASDAQ:DASH) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 13,420,000 shares, an increase of 34.2% from the February 28th total of 10,000,000 shares. Based on an average daily volume of 5,320,000 shares, the short-interest ratio is currently 2.5 days. Currently, 3.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

DASH has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on shares of DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Wolfe Research increased their price target on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of DoorDash from $155.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Barclays boosted their price target on shares of DoorDash from $163.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, UBS Group raised their price objective on DoorDash from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $207.21.

Insider Activity

In related news, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now directly owns 14,778 shares in the company, valued at $3,006,584.10. This represents a 8.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Keith Yandell sold 8,116 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the transaction, the insider now directly owns 105,162 shares of the company’s stock, valued at $21,395,208.90. This represents a 7.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,445 shares of company stock worth $62,258,130. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently modified their holdings of the stock. Townsquare Capital LLC grew its position in shares of DoorDash by 129.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,640 shares of the company’s stock valued at $805,000 after buying an additional 3,184 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of DoorDash by 12.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,125 shares of the company’s stock valued at $446,000 after purchasing an additional 354 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of DoorDash by 9.6% during the third quarter. Captrust Financial Advisors now owns 8,162 shares of the company’s stock valued at $1,165,000 after purchasing an additional 718 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of DoorDash by 8,108.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 253,649 shares of the company’s stock worth $36,203,000 after purchasing an additional 250,559 shares during the period. Finally, Cinctive Capital Management LP bought a new stake in shares of DoorDash in the 3rd quarter worth approximately $873,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $1.35 during trading on Monday, reaching $181.26. 3,115,009 shares of the stock were exchanged, compared to its average volume of 4,111,769. The firm has a market cap of $76.15 billion, a price-to-earnings ratio of 673.13 and a beta of 1.70. DoorDash has a 12-month low of $99.32 and a 12-month high of $215.25. The firm’s 50-day moving average price is $192.00 and its 200 day moving average price is $172.39.

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.