Insider Selling: DoorDash (NASDAQ:DASH) Director Sells 45,410 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $11,097,749.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, October 1st, Stanley Tang sold 45,410 shares of DoorDash stock. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30.
• On Tuesday, September 2nd, Stanley Tang sold 45,410 shares of DoorDash stock. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10.

DoorDash Stock Performance

Shares of DASH stock traded down $1.93 on Wednesday, hitting $238.00. The company had a trading volume of 5,368,435 shares, compared to its average volume of 4,320,758. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market cap of $101.67 billion, a P/E ratio of 132.22 and a beta of 1.70. The company has a 50-day moving average price of $260.74 and a 200-day moving average price of $237.29.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the company posted ($0.38) earnings per share. DoorDash’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, equities research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on DASH. UBS Group reissued a “buy” rating on shares of DoorDash in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $330.00 price target on shares of DoorDash in a research note on Wednesday, September 17th. Zacks Research upgraded shares of DoorDash from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, BMO Capital Markets lifted their price target on shares of DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $292.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. lifted its stake in DoorDash by 6.6% in the third quarter. Alps Advisors Inc. now owns 10,949 shares of the company’s stock worth $2,978,000 after acquiring an additional 679 shares during the last quarter. a16z Perennial Management L.P. raised its holdings in shares of DoorDash by 10.7% in the 3rd quarter. a16z Perennial Management L.P. now owns 15,049 shares of the company’s stock valued at $4,093,000 after purchasing an additional 1,459 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its position in shares of DoorDash by 48.9% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 8,460 shares of the company’s stock worth $2,305,000 after purchasing an additional 2,780 shares during the last quarter. Twin Capital Management Inc. acquired a new position in shares of DoorDash during the third quarter worth $650,000. Finally, State of Michigan Retirement System grew its stake in shares of DoorDash by 7.4% during the third quarter. State of Michigan Retirement System now owns 100,100 shares of the company’s stock worth $27,226,000 after purchasing an additional 6,900 shares in the last quarter. 90.64% of the stock is 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.