DoorDash Target of Unusually Large Options Trading (NYSE:DASH)

DoorDash, Inc. (NYSE:DASH – Get Rating) was the target of unusually large options trading activity on Friday. Stock traders acquired 66,572 put options on the company. This is an increase of approximately 126% compared to the typical volume of 29,475 put options.

Analyst Ratings Changes

Several brokerages have recently issued reports on DASH. Bank of America reduced their price target on shares of DoorDash from $80.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, February 14th. Oppenheimer boosted their price target on shares of DoorDash from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, February 17th. Piper Sandler downgraded shares of DoorDash from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $227.00 to $40.00 in a report on Monday, January 9th. Needham & Company LLC lifted their price objective on shares of DoorDash from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, February 17th. Finally, Moffett Nathanson assumed coverage on shares of DoorDash in a research note on Monday, January 30th. They set an “outperform” rating and a $79.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.95.

DoorDash Trading Down 1.8 %

Shares of DASH opened at $59.64 on Friday. The business’s 50-day moving average is $57.46 and its 200-day moving average is $54.68. DoorDash has a fifty-two week low of $41.37 and a fifty-two week high of $130.20.

DoorDash (NYSE:DASH – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.07. DoorDash had a negative return on equity of 15.12% and a negative net margin of 20.74%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.77 billion. Sell-side analysts predict that DoorDash will post -2.14 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $7,021,161.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, Director Stanley Tang sold 93,000 shares of DoorDash stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $54.32, for a total value of $5,051,760.00. Following the completion of the transaction, the director now owns 31,759 shares of the company’s stock, valued at $1,725,148.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Monday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $7,021,161.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 308,424 shares of company stock valued at $16,529,181. 15.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Raymond James & Associates grew its holdings in DoorDash by 123.4% during the first quarter. Raymond James & Associates now owns 6,286 shares of the company’s stock valued at $737,000 after purchasing an additional 3,472 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of DoorDash by 43.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,825 shares of the company’s stock valued at $448,000 after acquiring an additional 1,153 shares during the period. American Century Companies Inc. boosted its position in shares of DoorDash by 18.3% in the first quarter. American Century Companies Inc. now owns 4,444 shares of the company’s stock valued at $521,000 after acquiring an additional 689 shares during the period. US Bancorp DE boosted its position in shares of DoorDash by 204.6% in the first quarter. US Bancorp DE now owns 926 shares of the company’s stock valued at $109,000 after acquiring an additional 622 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of DoorDash by 305.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,553 shares of the company’s stock valued at $415,000 after acquiring an additional 2,677 shares during the period. Institutional investors and hedge funds own 72.65% of the company’s stock.

About DoorDash

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.