Insider Selling: DoorDash, Inc. (NASDAQ:DASH) General Counsel Sells 12,950 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) General Counsel Tia Sherringham sold 12,950 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,201,241.00. Following the sale, the general counsel now owns 145,917 shares of the company’s stock, valued at approximately $24,802,971.66. The trade was a 8.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

DoorDash Price Performance

DASH stock opened at $177.24 on Friday. The business has a fifty day moving average price of $153.61 and a 200 day moving average price of $128.96. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16. The stock has a market capitalization of $73.62 billion, a price-to-earnings ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its 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 company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DASH. Piper Sandler upped their price target on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Evercore ISI raised their price target on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Raymond James started coverage on shares of DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, BMO Capital Markets lifted their target price on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

Institutional Investors Weigh In On DoorDash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. lifted its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Meeder Asset Management Inc. raised its position in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC acquired a new position in DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc boosted its position in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds 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.