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 firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $109.30, for a total transaction of $765,100.00. Following the completion of the transaction, the chief financial officer now directly owns 424,223 shares of the company’s stock, valued at $46,367,573.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, May 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $110.47, for a total transaction of $773,290.00.
• On Tuesday, April 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00.

DoorDash Stock Down 1.0 %

DoorDash stock traded down $1.08 during trading hours on Tuesday, hitting $107.43. The stock had a trading volume of 3,559,901 shares, compared to its average volume of 3,952,173. The stock has a market capitalization of $43.93 billion, a P/E ratio of -98.65, a price-to-earnings-growth ratio of 27.50 and a beta of 1.67. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $143.34. The stock’s 50-day moving average price is $115.23 and its 200-day moving average price is $117.40.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the company earned ($0.41) earnings per share. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, research analysts expect that DoorDash, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DASH. Janus Henderson Group PLC raised its holdings in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares during the last quarter. Norges Bank purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $264,806,000. Vanguard Group Inc. raised its holdings in shares of DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after purchasing an additional 1,200,181 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock valued at $110,082,000 after purchasing an additional 1,052,198 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on DASH shares. Needham & Company LLC reissued a “buy” rating and issued a $137.00 price target on shares of DoorDash in a report on Thursday, May 2nd. JMP Securities lowered their price objective on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 2nd. Benchmark lowered their price objective on shares of DoorDash from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Oppenheimer raised their price objective on shares of DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.79.

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.