DoorDash (NASDAQ:DASH) Shares Down 4% After Insider Selling

DoorDash, Inc. (NASDAQ:DASH) shares dropped 4% on Wednesday after an insider sold shares in the company. The stock traded as low as $167.96 and last traded at $169.15. Approximately 1,642,301 shares traded hands during trading, a decline of 57% from the average daily volume of 3,796,251 shares. The stock had previously closed at $176.18.

Specifically, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. The trade was a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Evercore ISI raised their price objective on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Piper Sandler boosted their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Argus initiated coverage on DoorDash in a report on Tuesday, July 23rd. They set a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Down 4.0 %

The stock has a market capitalization of $70.26 billion, a P/E ratio of -391.51, a P/E/G ratio of 14.26 and a beta of 1.67. The stock’s 50 day moving average price is $150.98 and its 200-day moving average price is $127.83.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Orion Portfolio Solutions LLC boosted its position in shares of DoorDash by 37.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 6,490 shares of the company’s stock worth $894,000 after purchasing an additional 1,762 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in DoorDash by 29.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,565 shares of the company’s stock worth $1,180,000 after purchasing an additional 1,944 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in DoorDash by 94.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the company’s stock valued at $510,000 after purchasing an additional 1,800 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of DoorDash by 58.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 287,458 shares of the company’s stock worth $39,612,000 after buying an additional 105,749 shares during the last quarter. Finally, Natixis acquired a new stake in shares of DoorDash during the first quarter worth $2,788,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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.