Insider Selling: DoorDash (NASDAQ:DASH) COO Sells 30,000 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares of the company’s stock, valued at approximately $247,476,418.20. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Prabir Adarkar also recently made the following trade(s):

• On Monday, August 25th, Prabir Adarkar sold 41,881 shares of DoorDash stock. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42.
• On Thursday, July 24th, Prabir Adarkar sold 30,000 shares of DoorDash stock. The stock was sold at an average price of $243.02, for a total transaction of $7,290,600.00.

DoorDash Trading Down 1.6%

NASDAQ:DASH opened at $267.64 on Thursday. The company has a 50-day moving average price of $254.56 and a 200-day moving average price of $222.77. DoorDash, Inc. has a 12 month low of $140.62 and a 12 month high of $278.15. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The stock has a market cap of $114.34 billion, a price-to-earnings ratio of 148.69 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Institutional Trading of DoorDash

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in DoorDash by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after purchasing an additional 1,792,799 shares in the last quarter. State Street Corp increased its stake in DoorDash by 3.1% during the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after purchasing an additional 427,722 shares in the last quarter. Geode Capital Management LLC increased its stake in DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after purchasing an additional 223,188 shares in the last quarter. Invesco Ltd. increased its stake in DoorDash by 12.0% during the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after purchasing an additional 575,629 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after purchasing an additional 641,601 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DASH. Wells Fargo & Company increased their price target on shares of DoorDash from $280.00 to $306.00 and gave the stock an “equal weight” rating in a research note on Friday, September 5th. Royal Bank Of Canada increased their price target on shares of DoorDash from $230.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Raymond James Financial reiterated a “strong-buy” rating and issued a $325.00 price target (up from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Truist Financial increased their price target on shares of DoorDash from $272.00 to $326.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Sanford C. Bernstein increased their price target on shares of DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.42.

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.