DoorDash, Inc. (NASDAQ:DASH) Short Interest Up 8.0% in June

DoorDash, Inc. (NASDAQ:DASH) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 14,460,000 shares, an increase of 8.0% from the May 31st total of 13,390,000 shares. Based on an average trading volume of 3,870,000 shares, the short-interest ratio is currently 3.7 days.

Insider Activity at DoorDash

In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the sale, the director now directly owns 70,111 shares of the company’s stock, valued at approximately $9,927,717.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the transaction, the director now directly owns 70,111 shares in the company, valued at approximately $9,927,717.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 66,195 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $139.31, for a total transaction of $9,221,625.45. Following the transaction, the director now owns 36,482 shares in the company, valued at $5,082,307.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 478,325 shares of company stock valued at $58,347,361. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in DoorDash by 21.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 791 shares of the company’s stock valued at $102,000 after buying an additional 138 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of DoorDash by 15.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 43,640 shares of the company’s stock worth $5,987,000 after purchasing an additional 5,779 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of 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 worth $21,394,000 after purchasing an additional 7,900 shares during the last quarter. Cetera Advisors LLC increased its position in shares of DoorDash by 40.8% during the 1st quarter. Cetera Advisors LLC now owns 3,100 shares of the company’s stock worth $427,000 after purchasing an additional 898 shares during the last quarter. Finally, PGGM Investments acquired a new position in shares of DoorDash during the 1st quarter worth approximately $1,901,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

DASH has been the subject of a number of research reports. Citigroup lifted their price objective on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JMP Securities cut their target price on DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company raised their target price on DoorDash from $100.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research note on Thursday, May 2nd. Finally, Truist Financial cut their target price on DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $134.79.

DoorDash Trading Down 1.0 %

Shares of NASDAQ:DASH traded down $1.05 during trading on Tuesday, hitting $107.46. 2,616,990 shares of the company’s stock traded hands, compared to its average volume of 3,944,690. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34. The company has a market cap of $43.94 billion, a price-to-earnings ratio of -98.65, a price-to-earnings-growth ratio of 27.50 and a beta of 1.67. The company has a 50-day moving average price of $115.23 and a 200-day moving average price of $117.40.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm earned ($0.41) EPS. DoorDash’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, analysts predict that DoorDash will post 0.11 earnings per share for the current fiscal year.

DoorDash Company Profile

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.