DoorDash (NASDAQ:DASH) Shares Gap Up – What’s Next?

Shares of DoorDash, Inc. (NASDAQ:DASH) gapped up before the market opened on Monday . The stock had previously closed at $178.08, but opened at $182.49. DoorDash shares last traded at $171.60, with a volume of 3,658,173 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DASH shares. Citigroup reissued a “buy” rating on shares of DoorDash in a research note on Saturday. Benchmark raised their target price on shares of DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada raised their price target on shares of DoorDash from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI restated an “outperform” rating on shares of DoorDash in a report on Monday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $240.00 target price (up previously from $180.00) on shares of DoorDash in a report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.52.

DoorDash Price Performance

The company has a market capitalization of $77.18 billion, a price-to-earnings ratio of 680.48 and a beta of 1.70. The business’s 50 day simple moving average is $187.26 and its 200 day simple moving average is $166.63.

Insider Buying and Selling at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at approximately $71,840,596.70. The trade was a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Keith Yandell sold 8,116 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $1,651,200.20. Following the transaction, the insider now owns 105,162 shares in the company, valued at approximately $21,395,208.90. This trade represents a 7.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 572,062 shares of company stock worth $101,051,440. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. increased its stake 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 acquiring an additional 130 shares during the period. Pittenger & Anderson Inc. acquired a new position in DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC acquired a new position in DoorDash during the fourth quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new position in DoorDash during the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC acquired a new position in DoorDash during the fourth quarter worth about $36,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.