Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CEO Sells 108,332 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tony Xu also recently made the following trade(s):

• On Tuesday, October 15th, Tony Xu sold 81,249 shares of DoorDash stock. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63.
• On Monday, September 23rd, Tony Xu sold 54,166 shares of DoorDash stock. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96.

DoorDash Stock Performance

DASH traded up $3.45 during trading on Tuesday, hitting $176.18. The stock had a trading volume of 2,911,676 shares, compared to its average volume of 3,805,776. The company has a 50 day simple moving average of $149.97 and a 200-day simple moving average of $127.39. DoorDash, Inc. has a 12 month low of $92.56 and a 12 month high of $178.16.

DoorDash (NASDAQ:DASH) last posted 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 company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. As a group, analysts expect that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on DASH. The Goldman Sachs Group lifted their target price on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Needham & Company LLC raised their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Finally, Susquehanna boosted their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $164.03.

Institutional Trading of DoorDash

Several institutional investors have recently made changes to their positions in DASH. Rakuten Securities Inc. lifted its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash during the second quarter worth approximately $32,000. Meeder Asset Management Inc. raised its stake in shares of DoorDash by 82.0% during the second 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. Versant Capital Management Inc raised its stake in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.