Insider Selling: DoorDash (NASDAQ:DASH) COO Sells $12,813,778.64 in Stock

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 55,289 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $231.76, for a total transaction of $12,813,778.64. Following the completion of the sale, the chief operating officer owned 930,211 shares in the company, valued at approximately $215,585,701.36. This trade represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 20th, Prabir Adarkar sold 17,126 shares of DoorDash stock. The shares were sold at an average price of $220.62, for a total value of $3,778,338.12.

DoorDash Trading Down 2.1%

Shares of NASDAQ:DASH traded down $5.04 during midday trading on Thursday, reaching $231.89. The company had a trading volume of 3,440,991 shares, compared to its average volume of 4,778,898. The company has a fifty day simple moving average of $196.67 and a two-hundred day simple moving average of $176.04. The firm has a market cap of $100.48 billion, a price-to-earnings ratio of 121.41 and a beta of 1.78. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the company earned $0.65 EPS. DoorDash’s revenue for the quarter was up 35.6% on a year-over-year basis. Research analysts predict that DoorDash, Inc. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DASH. Wells Fargo & Company raised their target price on DoorDash from $199.00 to $225.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Piper Sandler restated a “neutral” rating and issued a $220.00 target price (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. DA Davidson decreased their target price on DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Wedbush increased their price target on DoorDash from $205.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Finally, Truist Financial boosted their price objective on shares of DoorDash from $330.00 to $336.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Twenty-three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $254.53.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its position in shares of DoorDash by 16,825.6% during the second quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock valued at $19,101,838,000 after buying an additional 102,904,566 shares during the last quarter. SC US Ttgp LTD. increased its stake in DoorDash by 1.6% during the fourth quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after acquiring an additional 506,358 shares during the period. Morgan Stanley raised its holdings in DoorDash by 2.3% in the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock valued at $3,971,741,000 after acquiring an additional 391,596 shares in the last quarter. State Street Corp lifted its position in shares of DoorDash by 3.0% in the 4th quarter. State Street Corp now owns 15,761,072 shares of the company’s stock worth $3,569,568,000 after acquiring an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash added Kohl’s, Barnes & Noble and Carter’s to its retail delivery network, bringing approximately 500,000 additional products to the platform ahead of back-to-school season. The expansion could increase order frequency, marketplace volume and DoorDash’s role in on-demand commerce. DoorDash adds retail names and products
• Positive Sentiment: The company launched college-football promotions featuring rewards, gift-card offers, DashPass benefits and prize giveaways. The campaign may support customer engagement and food-delivery demand during the season, although its financial impact was not disclosed. DoorDash college football promotion
• Neutral Sentiment: DoorDash said orders involving pecan products increased 28% as restaurants rolled out fall menus earlier. The data points to seasonal consumer activity but does not change the company’s earnings outlook or provide formal guidance. DoorDash fall flavor data
• Negative Sentiment: CEO Tony Xu sold 33,334 shares for approximately $7.67 million, reducing his reported ownership to 1,500 shares. Director Stanley Tang sold 10,134 shares worth about $2.28 million, while General Counsel Tia Sherringham and Chief Accounting Officer Gordon S. Lee also reported sales. The transactions may weigh on sentiment, particularly the sharp reduction in Xu’s holdings, despite being conducted under 10b5-1 plans. DoorDash insider selling

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.