Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CFO Sells 7,000 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $169.32, for a total value of $1,185,240.00. Following the completion of the sale, the chief financial officer now owns 366,993 shares of the company’s stock, valued at $62,139,254.76. This represents a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ravi Inukonda also recently made the following trade(s):

• On Friday, November 29th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $179.76, for a total value of $1,258,320.00.
• On Wednesday, November 20th, Ravi Inukonda sold 14,219 shares of DoorDash stock. The shares were sold at an average price of $169.98, for a total transaction of $2,416,945.62.

DoorDash Trading Up 2.5 %

DASH stock opened at $174.96 on Friday. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.78. The business’s 50 day simple moving average is $171.36 and its 200 day simple moving average is $141.52. The firm has a market capitalization of $72.68 billion, a PE ratio of -388.80, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, sell-side analysts predict that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently bought and sold shares of DASH. Commonwealth Equity Services LLC increased its stake in shares of DoorDash by 34.5% during the second quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock worth $683,000 after purchasing an additional 1,611 shares during the period. Banque Cantonale Vaudoise grew its holdings in DoorDash by 16.7% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,009 shares of the company’s stock valued at $219,000 after buying an additional 288 shares in the last quarter. CIBC Asset Management Inc increased its position in DoorDash by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 72,823 shares of the company’s stock worth $7,922,000 after buying an additional 3,529 shares during the period. Rhumbline Advisers lifted its holdings in shares of DoorDash by 3.4% during the second quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock worth $44,585,000 after buying an additional 13,639 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of DoorDash by 2.5% in the second quarter. Victory Capital Management Inc. now owns 263,873 shares of the company’s stock valued at $28,704,000 after acquiring an additional 6,459 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on DASH. Raymond James assumed coverage on shares of DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. Citigroup upped their price objective on shares of DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. The Goldman Sachs Group lifted their target price on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised their price target on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $171.42.

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.