DoorDash (NASDAQ:DASH) COO Prabir Adarkar Sells 17,126 Shares

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 17,126 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $3,778,338.12. Following the transaction, the chief operating officer owned 941,950 shares in the company, valued at $207,813,009. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Prabir Adarkar also recently made the following trade(s):

• On Tuesday, May 26th, Prabir Adarkar sold 21,739 shares of DoorDash stock. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75.

DoorDash Stock Performance

Shares of DoorDash stock opened at $229.06 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $193.97 and a 200 day simple moving average of $175.40. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The firm has a market cap of $99.25 billion, a P/E ratio of 119.93 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Sell-side analysts predict that DoorDash, Inc. will post 2.46 earnings per share for the current fiscal year.

Institutional Trading of DoorDash

A number of large investors have recently made changes to their positions in the company. MV Capital Management Inc. acquired a new position in DoorDash in the fourth quarter valued at about $26,000. Washington Trust Advisors Inc. raised its position in shares of DoorDash by 81.0% during the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after purchasing an additional 64 shares during the period. Swiss RE Ltd. bought a new position in shares of DoorDash during the 4th quarter valued at about $28,000. ST Germain D J Co. Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at approximately $32,000. Institutional investors own 90.64% of the company’s stock.

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash participated in Airbound’s $37 million funding round. Airbound develops delivery drones and plans to use the capital to expand manufacturing, giving DoorDash exposure to technology that could eventually improve delivery speed and operating efficiency. The investment is a longer-term strategic catalyst rather than an immediate earnings driver. Airbound raises $37 million from Greenoaks, DoorDash, others; aims to scale up drone delivery Airbound Bags $37 Mn From Greenoaks, DoorDash To Scale Drone Manufacturing
• Positive Sentiment: DoorDash launched a season-long college football rewards program and a related marketing campaign featuring Reggie Bush, Jameis Winston and Lane Kiffin. The initiatives could increase brand visibility, customer engagement and order volume during a major sports season, though the articles provide no financial guidance or expected revenue impact. DoorDash Launches Season-Long Rewards Program for College Football Fans Reggie Bush, Jameis Winston And Lane Kiffin Star In New DoorDash Campaign
• Neutral Sentiment: COO Prabir Adarkar and director Stanley Tang reported several stock sales totaling roughly $22.8 million. The transactions were conducted under a Rule 10b5-1 plan or to cover tax withholding on vested equity awards, reducing their bearish significance; however, the scale of the sales may attract some investor attention. DoorDash insider transaction filings
• Neutral Sentiment: A roundup naming DoorDash among restaurant stocks to watch provides limited new information and is unlikely to materially change the investment outlook. Best Restaurant Stocks To Watch Now – August 21st

Analyst Ratings Changes

Several brokerages have recently issued reports on DASH. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of DoorDash in a research note on Thursday, August 6th. Benchmark reduced their price objective on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research report on Monday. Bank of America restated a “buy” rating on shares of DoorDash in a research report on Thursday, August 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $220.00 price objective (up from $205.00) on shares of DoorDash in a research note on Thursday, August 6th. Twenty-three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $254.53.

About DoorDash

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.