Stock Traders Buy Large Volume of DoorDash Call Options (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the recipient of unusually large options trading on Thursday. Stock investors acquired 68,987 call options on the stock. This represents an increase of 306% compared to the average volume of 16,992 call options.

DoorDash Stock Performance

NASDAQ:DASH traded up $0.63 on Thursday, hitting $170.27. The stock had a trading volume of 979,736 shares, compared to its average volume of 3,831,140. The company has a fifty day moving average price of $142.44 and a two-hundred day moving average price of $124.83. DoorDash has a 1-year low of $83.58 and a 1-year high of $170.77.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) EPS. Analysts forecast that DoorDash will post 0.23 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Piper Sandler raised their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Benchmark lifted their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Evercore ISI lifted their price objective on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Mizuho lifted their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $163.12.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank lifted its holdings in shares of DoorDash by 8.3% in the 3rd quarter. Swiss National Bank now owns 906,300 shares of the company’s stock worth $129,356,000 after acquiring an additional 69,700 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of DoorDash by 5,396.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after acquiring an additional 651,525 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new position in shares of DoorDash in the 3rd quarter worth approximately $236,000. Natixis Advisors LLC lifted its holdings in shares of DoorDash by 1.8% in the 3rd quarter. Natixis Advisors LLC now owns 348,383 shares of the company’s stock worth $49,724,000 after acquiring an additional 6,280 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of DoorDash by 10.6% in the 3rd quarter. Empowered Funds LLC now owns 7,273 shares of the company’s stock worth $1,038,000 after acquiring an additional 695 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

About DoorDash

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.