DoorDash (NASDAQ:DASH) Director Sells $6,968,093.30 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 30,835 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $225.98, for a total transaction of $6,968,093.30. Following the completion of the sale, the director owned 10,361 shares in the company, valued at approximately $2,341,378.78. This trade represents a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stanley Tang also recently made the following trade(s):

• On Monday, August 24th, Stanley Tang sold 10,134 shares of DoorDash stock. The shares were sold at an average price of $225.00, for a total transaction of $2,280,150.00.
• On Friday, August 21st, Stanley Tang sold 72,367 shares of DoorDash stock. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72.
• On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The stock was sold at an average price of $225.00, for a total value of $2,249,775.00.
• On Thursday, August 20th, Stanley Tang sold 2,160 shares of DoorDash stock. The shares were sold at an average price of $220.62, for a total value of $476,539.20.
• On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The stock was sold at an average price of $200.63, for a total value of $13,581,246.59.
• On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The stock was sold at an average price of $191.19, for a total value of $4,421,268.75.

DoorDash Stock Down 4.6%

Shares of DASH traded down $10.27 on Friday, hitting $211.73. The company’s stock had a trading volume of 4,137,410 shares, compared to its average volume of 4,732,121. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm’s fifty day moving average price is $203.24 and its 200-day moving average price is $178.31. The firm has a market capitalization of $91.74 billion, a price-to-earnings ratio of 110.85 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, equities research analysts expect that DoorDash, Inc. will post 2.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its stake in shares of DoorDash by 978.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,920 shares of the company’s stock worth $908,000 after purchasing an additional 4,464 shares in the last quarter. Range Advisory LLC increased its holdings in DoorDash by 27.0% during the second quarter. Range Advisory LLC now owns 2,166 shares of the company’s stock worth $400,000 after buying an additional 461 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in DoorDash by 8,533.3% in the second quarter. Brown Lisle Cummings Inc. now owns 518 shares of the company’s stock valued at $96,000 after acquiring an additional 512 shares during the last quarter. CYBER HORNET ETFs LLC lifted its stake in DoorDash by 1,052.5% in the second quarter. CYBER HORNET ETFs LLC now owns 11,836 shares of the company’s stock valued at $2,103,000 after acquiring an additional 10,809 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of DoorDash by 16,825.6% in the 2nd quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock valued at $19,101,838,000 after acquiring an additional 102,904,566 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of DoorDash in a research note on Thursday. BTIG Research reiterated a “buy” rating and set a $225.00 price objective on shares of DoorDash in a report on Thursday, August 6th. Bank of America reissued a “buy” rating on shares of DoorDash in a research report on Thursday, August 6th. Guggenheim restated a “buy” rating and issued a $255.00 target price on shares of DoorDash in a research note on Tuesday, June 23rd. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of DoorDash in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $254.97.

DoorDash News Roundup

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage of DoorDash with a Buy rating, potentially supporting the stock by adding a bullish analyst view. Rosenblatt initiates coverage of DoorDash with buy recommendation
• Positive Sentiment: DoorDash expanded its grocery network through a nationwide delivery partnership with Natural Grocers, increasing access to potential orders and strengthening its non-restaurant business. Natural Grocers expands delivery nationwide through DoorDash
• Positive Sentiment: The company partnered with Live Nation to develop fan-focused delivery and promotional experiences, creating possible new demand and advertising opportunities. DoorDash partners with Live Nation
• Positive Sentiment: DoorDash’s workplace-meal offering is benefiting from companies bringing employees back to offices, providing another use case beyond individual restaurant deliveries. DoorDash workplace meals help bring employees back to the office
• Positive Sentiment: A partnership with Circana will provide independent validation for DoorDash’s advertising measurement, which could improve advertiser confidence and support growth in its higher-margin ads business. DoorDash teams with Circana on ad measurement
• Neutral Sentiment: Zacks notes that DoorDash is up 4.1% since its earnings release. The latest quarter featured revenue above expectations and 35.6% year-over-year growth, but earnings per share narrowly missed estimates and declined from the prior-year period, leaving investors focused on the company’s next results and outlook. Why is DoorDash up since its last earnings report?
• Negative Sentiment: CFO Ravi Inukonda sold 16,044 shares worth about $3.7 million. The transaction was made under a pre-arranged Rule 10b5-1 plan, reducing its signaling significance, but insider selling can still weigh modestly on sentiment.
• Negative Sentiment: Walmart is expanding restaurant delivery with Dunkin’, intensifying competition for DoorDash and Uber Eats. Walmart expands restaurant delivery
• Negative Sentiment: Sands Capital Select Growth Fund disclosed that it sold DoorDash shares in the second quarter, representing an institutional ownership reduction and a potential overhang. Sands Capital Select Growth Fund sold DoorDash shares

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.