Insider Selling: DoorDash, Inc. (NASDAQ:DASH) Director Sells $6,525,600.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Andy Fang sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the transaction, the director now owns 22,545 shares in the company, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

DoorDash Stock Performance

Shares of DoorDash stock opened at $217.80 on Thursday. The company has a 50-day simple moving average of $194.44 and a two-hundred day simple moving average of $187.25. The stock has a market capitalization of $92.29 billion, a PE ratio of 806.67 and a beta of 1.67. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $220.88.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) earnings per share. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Large investors have recently bought and sold shares of the business. GeoWealth Management LLC lifted its stake in DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock valued at $240,000 after acquiring an additional 51 shares during the period. IFP Advisors Inc raised its holdings in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. Palo Alto Wealth Advisors LLC lifted its position in DoorDash by 0.4% during the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock valued at $2,385,000 after purchasing an additional 54 shares during the period. SageView Advisory Group LLC boosted its holdings in DoorDash by 5.1% in the first quarter. SageView Advisory Group LLC now owns 1,435 shares of the company’s stock worth $262,000 after purchasing an additional 69 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DASH has been the topic of a number of research analyst reports. Roth Capital set a $191.00 price target on shares of DoorDash and gave the stock a “neutral” rating in a report on Wednesday, May 7th. JMP Securities reiterated a “market outperform” rating and issued a $225.00 target price on shares of DoorDash in a research report on Monday, April 28th. Wells Fargo & Company lowered their price target on DoorDash from $201.00 to $198.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of DoorDash in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.62.

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.