DoorDash, Inc. (NASDAQ:DASH) CFO Sells 7,000 Shares

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $169.32, for a total transaction of $1,185,240.00. Following the sale, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $62,139,254.76. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ravi Inukonda also recently made the following trade(s):

• On Friday, November 29th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The shares were sold at an average price of $179.76, for a total transaction of $1,258,320.00.
• On Wednesday, November 20th, Ravi Inukonda sold 14,219 shares of DoorDash stock. The shares were sold at an average price of $169.98, for a total transaction of $2,416,945.62.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $2.90 on Thursday, hitting $170.65. 2,291,789 shares of the company’s stock were exchanged, compared to its average volume of 3,674,925. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.78. The company has a market capitalization of $70.89 billion, a PE ratio of -379.22, a P/E/G ratio of 13.56 and a beta of 1.70. The firm’s 50-day moving average is $170.59 and its 200 day moving average is $140.88.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Loop Capital raised their target price on DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Piper Sandler boosted their price objective on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Evercore ISI upped their price objective on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.70.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of DoorDash by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock valued at $12,958,000 after purchasing an additional 18,155 shares during the last quarter. Lord Abbett & CO. LLC increased its position in DoorDash by 1.1% during the third quarter. Lord Abbett & CO. LLC now owns 750,119 shares of the company’s stock worth $107,064,000 after buying an additional 8,195 shares during the period. Franklin Resources Inc. lifted its stake in DoorDash by 15.2% in the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares during the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of DoorDash in the third quarter valued at approximately $6,250,000. Finally, Tidal Investments LLC grew its position in shares of DoorDash by 19.9% during the third quarter. Tidal Investments LLC now owns 12,321 shares of the company’s stock worth $1,759,000 after acquiring an additional 2,049 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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.