DoorDash (NASDAQ:DASH) Director Andy Fang Sells 5,000 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DoorDash Price Performance

DASH opened at $183.42 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $79.92 billion, a P/E ratio of 87.34 and a beta of 1.83. The firm has a 50-day moving average of $165.50 and a 200 day moving average of $181.85. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. On average, research analysts expect that DoorDash, Inc. will post 2.41 EPS for the current year.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

Institutional Trading of DoorDash

Large investors have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in DoorDash by 5.0% in the third quarter. American Century Companies Inc. now owns 485,088 shares of the company’s stock worth $131,941,000 after buying an additional 22,944 shares during the period. Intech Investment Management LLC grew its stake in shares of DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after buying an additional 221,985 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of DoorDash in the 4th quarter worth about $41,712,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of DoorDash by 7.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company’s stock worth $219,276,000 after buying an additional 53,722 shares in the last quarter. Finally, Jefferies Financial Group Inc. boosted its stake in DoorDash by 136.6% during the 3rd quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company’s stock valued at $11,520,000 after purchasing an additional 24,454 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DASH shares. Piper Sandler decreased their price objective on DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group set a $280.00 price target on DoorDash in a research report on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of DoorDash in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $255.00 target price on shares of DoorDash in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.11.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.