Stanley Tang Sells 45,410 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company’s stock, valued at $3,313,424.85. This represents a 71.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

DoorDash Stock Down 8.1 %

NASDAQ:DASH traded down $15.26 during trading hours on Thursday, hitting $173.99. 7,161,016 shares of the stock traded hands, compared to its average volume of 4,150,980. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The stock has a 50 day moving average price of $192.48 and a 200 day moving average price of $173.23. The company has a market cap of $73.09 billion, a price-to-earnings ratio of 644.41 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DASH shares. Roth Mkm boosted their price objective on shares of DoorDash from $165.00 to $193.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of DoorDash in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “buy” rating on shares of DoorDash in a research note on Monday, March 3rd. Mizuho increased their target price on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald lifted their price target on DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.29.

Institutional Investors Weigh In On DoorDash

A number of institutional investors have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. purchased a new stake in DoorDash in the 4th quarter worth $29,000. Denver PWM LLC purchased a new stake in shares of DoorDash in the fourth quarter worth about $30,000. Princeton Global Asset Management LLC bought a new position in DoorDash during the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC purchased a new position in DoorDash during the 4th quarter valued at approximately $36,000. Finally, IFP Advisors Inc increased its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after acquiring an additional 54 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.