Insider Selling: DoorDash, Inc. (NASDAQ:DASH) COO Sells 20,000 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the sale, the chief operating officer now owns 887,348 shares of the company’s stock, valued at approximately $164,674,041.84. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 20th, Prabir Adarkar sold 20,161 shares of DoorDash stock. The shares were sold at an average price of $203.45, for a total transaction of $4,101,755.45.
• On Thursday, January 23rd, Prabir Adarkar sold 20,000 shares of DoorDash stock. The shares were sold at an average price of $180.83, for a total value of $3,616,600.00.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $182.42 on Wednesday. The stock’s 50 day moving average price is $192.25 and its 200 day moving average price is $173.12. The stock has a market cap of $76.63 billion, a price-to-earnings ratio of 675.63 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25.

Institutional Trading of DoorDash

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in DoorDash during the fourth quarter valued at about $597,443,000. Capital World Investors lifted its holdings in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in DoorDash during the fourth quarter valued at approximately $146,094,000. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. Royal Bank of Canada boosted their price target on DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Loop Capital upped their price objective on shares of DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Truist Financial lifted their target price on DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. KeyCorp increased their price target on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Evercore ISI restated an “outperform” rating on shares of DoorDash in a report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $207.21.

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.