DoorDash, Inc. (NASDAQ:DASH) Short Interest Up 18.1% in May

DoorDash, Inc. (NASDAQ:DASHGet Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 14,620,000 shares, an increase of 18.1% from the April 30th total of 12,380,000 shares. Based on an average daily volume of 3,790,000 shares, the short-interest ratio is presently 3.9 days.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the completion of the sale, the director now directly owns 70,111 shares of the company’s stock, valued at approximately $9,927,717.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the sale, the general counsel now directly owns 183,512 shares in the company, valued at approximately $20,270,735.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shona L. Brown sold 700 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the completion of the transaction, the director now owns 70,111 shares of the company’s stock, valued at approximately $9,927,717.60. The disclosure for this sale can be found here. Insiders have sold 422,938 shares of company stock valued at $56,763,369 over the last quarter. 7.92% of the stock is owned by insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently bought and sold shares of DASH. Teachers Retirement System of The State of Kentucky grew its holdings in DoorDash by 5.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 155,345 shares of the company’s stock valued at $21,394,000 after buying an additional 7,900 shares during the last quarter. Cetera Advisors LLC grew its holdings in DoorDash by 40.8% during the 1st quarter. Cetera Advisors LLC now owns 3,100 shares of the company’s stock valued at $427,000 after buying an additional 898 shares during the last quarter. PGGM Investments acquired a new stake in DoorDash during the 1st quarter valued at $1,901,000. Atria Investments Inc acquired a new stake in DoorDash during the 1st quarter valued at $1,337,000. Finally, Swedbank AB acquired a new stake in DoorDash during the 1st quarter valued at $21,243,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 0.4 %

NASDAQ DASH traded down $0.43 during mid-day trading on Friday, hitting $110.11. The stock had a trading volume of 6,380,325 shares, compared to its average volume of 3,981,841. DoorDash has a 52-week low of $62.83 and a 52-week high of $143.34. The company has a market cap of $45.03 billion, a price-to-earnings ratio of -101.95, a P/E/G ratio of 27.84 and a beta of 1.78. The company has a 50 day simple moving average of $125.30 and a 200 day simple moving average of $115.03.

DoorDash (NASDAQ:DASHGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business posted ($0.41) EPS. DoorDash’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, equities analysts anticipate that DoorDash will post 0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer raised their price target on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Truist Financial lowered their target price on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada reduced their price target on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Morgan Stanley raised shares of DoorDash from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. Finally, Roth Mkm dropped their price objective on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.28.

Check Out Our Latest Stock Analysis on DoorDash

About DoorDash

(Get Free Report)

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.

Further Reading

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