DoorDash (NASDAQ:DASH) Sees Unusually-High Trading Volume

DoorDash, Inc. (NASDAQ:DASH) shares saw unusually-high trading volume on Wednesday . Approximately 2,571,279 shares traded hands during trading, a decline of 35% from the previous session’s volume of 3,945,460 shares.The stock last traded at $131.49 and had previously closed at $129.88.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DASH. Wolfe Research started coverage on DoorDash in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price target on the stock. Roth Mkm boosted their target price on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Barclays upped their price target on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. JMP Securities lifted their price objective on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Finally, Susquehanna upped their target price on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $142.57.

DoorDash Trading Up 2.1 %

The stock has a market cap of $54.21 billion, a P/E ratio of -120.26, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. The business has a 50-day simple moving average of $119.09 and a 200 day simple moving average of $121.32.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) EPS. As a group, equities analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the sale, the director now owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The disclosure for this sale can be found here. Insiders have sold a total of 304,769 shares of company stock worth $34,760,113 over the last quarter. Company insiders own 7.92% of the company’s stock.

Hedge Funds Weigh In On DoorDash

Institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new position in shares of DoorDash in the 4th quarter worth $219,000. Principal Securities Inc. bought a new position in shares of DoorDash in the fourth quarter valued at $96,000. Dimensional Fund Advisors LP grew its holdings in shares of DoorDash by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,036,374 shares of the company’s stock valued at $102,497,000 after buying an additional 23,159 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of DoorDash during the fourth quarter worth about $285,000. Finally, Principal Financial Group Inc. increased its position in shares of DoorDash by 331.0% during the fourth quarter. Principal Financial Group Inc. now owns 148,175 shares of the company’s stock worth $14,653,000 after acquiring an additional 113,792 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

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.