DoorDash (NASDAQ:DASH) Sees Large Volume Increase

Shares of DoorDash, Inc. (NASDAQ:DASH) saw unusually-high trading volume on Thursday . Approximately 1,632,215 shares were traded during mid-day trading, a decline of 58% from the previous session’s volume of 3,931,177 shares.The stock last traded at $100.96 and had previously closed at $102.46.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DASH. Moffett Nathanson upgraded DoorDash from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $118.00 to $164.00 in a report on Thursday, April 11th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $137.00 target price on shares of DoorDash in a report on Thursday, May 2nd. Truist Financial reduced their target price on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Roth Mkm lowered their price target on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $134.60.

DoorDash Trading Down 0.6 %

The firm’s fifty day moving average is $110.16 and its 200-day moving average is $118.13.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. On average, research analysts anticipate that DoorDash, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the transaction, the chief financial officer now owns 384,425 shares of the company’s stock, valued at $50,340,453.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total transaction of $916,650.00. Following the sale, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 459,016 shares of company stock worth $50,495,566. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

Institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in shares of DoorDash by 0.8% during the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock worth $1,359,477,000 after acquiring an additional 94,241 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in DoorDash during the 2nd quarter valued at approximately $63,000. Advisory Resource Group lifted its position in shares of DoorDash by 10.9% in the 2nd quarter. Advisory Resource Group now owns 8,043 shares of the company’s stock worth $875,000 after purchasing an additional 791 shares during the period. Everhart Financial Group Inc. boosted its stake in shares of DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after purchasing an additional 99 shares during the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new stake in shares of DoorDash during the second quarter worth $208,000. Institutional investors own 90.64% of the company’s stock.

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.