Insider Selling: DoorDash (NASDAQ:DASH) Director Sells $13,581,246.59 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 67,693 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $200.63, for a total value of $13,581,246.59. Following the transaction, the director directly owned 40,218 shares in the company, valued at $8,068,937.34. The trade was a 62.73% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stanley Tang also recently made the following trade(s):

• On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75.

DoorDash Stock Performance

Shares of DASH stock opened at $216.26 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $180.65 and a two-hundred day simple moving average of $174.77. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The firm has a market capitalization of $94.23 billion, a PE ratio of 113.23 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. Analysts forecast that DoorDash, Inc. will post 2.4 EPS for the current fiscal year.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash’s second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, memberships and the Deliveroo acquisition supported the top-line beat. DoorDash Q2 Earnings Miss on Higher R&D Costs, Revenue Beat
• Positive Sentiment: Management issued stronger-than-expected third-quarter guidance, indicating that demand for food, grocery and convenience delivery remains resilient. The company also said improving growth and unit economics are helping fund investments in DashPass, merchant services, artificial intelligence and autonomous delivery. DoorDash Issues Strong Guidance as Delivery Demand Keeps Rising
• Positive Sentiment: DoorDash received FAA approval to operate commercial air-carrier services in Charlotte, clearing a regulatory hurdle for drone deliveries. The initiative could eventually improve delivery speed and economics, although its financial contribution is likely longer term. DoorDash Cleared for Takeoff with FAA Air Carrier Approval
• Positive Sentiment: Several analysts raised their price targets: Cantor Fitzgerald increased its target to $260 and maintained an overweight rating, while Needham reiterated a buy rating with a $265 target. Barclays also lifted its target to $230, though it retained an equal-weight rating. DoorDash Given New Price Target at Barclays
• Neutral Sentiment: DoorDash is positioning artificial intelligence as a growth and efficiency driver, but management said AI-generated traffic is still limited. Autonomous delivery robot deployment also faces practical challenges involving charging, loading and complex pickups. DoorDash Faces Challenges Scaling Its Dot Delivery Robot
• Negative Sentiment: Adjusted earnings of $0.46 per share fell short of expectations and declined from $0.65 a year earlier. Higher research-and-development spending is pressuring near-term profitability as DoorDash invests in technology and expansion. DoorDash Q2 Earnings Miss Estimates
• Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. While scheduled insider sales do not necessarily signal deteriorating fundamentals, the transaction reduced his position by roughly 63%. Stanley Tang Sells DoorDash Shares

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $26,000. Swiss RE Ltd. purchased a new position in DoorDash in the fourth quarter valued at approximately $28,000. ST Germain D J Co. Inc. purchased a new position in DoorDash in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new position in DoorDash during the fourth quarter valued at $32,000. Finally, Sunbelt Securities Inc. grew its holdings in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DASH has been the subject of several recent research reports. Barclays upped their price target on DoorDash from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday. Zacks Research downgraded shares of DoorDash from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. UBS Group boosted their price target on shares of DoorDash from $223.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday. Benchmark dropped their target price on shares of DoorDash from $285.00 to $270.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $225.00 price target on shares of DoorDash in a research report on Thursday. Twenty-three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $253.50.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.