Insider Selling: DoorDash (NASDAQ:DASH) Director Sells 21,433 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Stanley Tang sold 21,433 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at approximately $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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Stanley Tang also recently made the following trade(s):

• On Monday, February 2nd, Stanley Tang sold 45,410 shares of DoorDash stock. The stock was sold at an average price of $209.01, for a total transaction of $9,491,144.10.

DoorDash Stock Performance

Shares of DASH opened at $155.07 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The firm has a market cap of $67.37 billion, a PE ratio of 73.15 and a beta of 1.93. The company's 50 day simple moving average is $172.14 and its 200-day simple moving average is $211.59. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

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DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.10). The business had revenue of $3.96 billion for the quarter, compared to analysts' expectations of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The business's revenue was up 37.7% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. As a group, equities analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Institutional Trading of DoorDash

Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of DoorDash by 85.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 45,958 shares of the company's stock worth $10,409,000 after acquiring an additional 21,221 shares during the period. Osbon Capital Management LLC acquired a new stake in shares of DoorDash in the 4th quarter worth $209,000. World Investment Advisors lifted its stake in shares of DoorDash by 6.2% in the 4th quarter. World Investment Advisors now owns 4,175 shares of the company's stock worth $946,000 after acquiring an additional 243 shares during the period. Sentinel Dome Partners LLC acquired a new stake in shares of DoorDash in the 4th quarter worth $3,103,000. Finally, Rehmann Capital Advisory Group lifted its stake in shares of DoorDash by 8.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,107 shares of the company's stock worth $251,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

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A number of brokerages have recently issued reports on DASH. Mizuho lowered their target price on shares of DoorDash from $320.00 to $255.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 3rd. Zacks Research upgraded shares of DoorDash from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 12th. KeyCorp raised their target price on shares of DoorDash from $275.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, February 19th. Morgan Stanley restated an "overweight" rating and set a $275.00 target price on shares of DoorDash in a research report on Thursday, February 19th. Finally, Jefferies Financial Group lifted their price objective on shares of DoorDash from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.12.

Read Our Latest Stock Analysis on DASH

DoorDash News Summary

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Mitre 10 (Australia) struck a new delivery deal with DoorDash, expanding the company’s retail footprint in Australia after rival Bunnings partnered with Uber Eats — a small but concrete revenue/market-share win in that region. Mitre 10 strikes new delivery deal with DoorDash
• Positive Sentiment: Celebrity investor commentary: Jim Cramer publicly said DoorDash “can be bought here,” which can boost retail demand and sentiment in the short term. Jim Cramer Says “The Stock of DoorDash Can Be Bought Here”
• Neutral Sentiment: DoorDash is winding down its Zesty restaurant-discovery app — likely a product simplification/reallocation of resources move; could reduce costs but has limited near-term revenue impact. DoorDash winds down restaurant discovery app Zesty
• Neutral Sentiment: Market/technical coverage: CNBC’s Chart Master discussed whether DoorDash can deliver more gains — useful for traders but not new company-level fundamentals. Chart Master: Can DoorDash deliver more gains?
• Negative Sentiment: Insider transaction: Director Stanley Tang sold 21,433 shares (~$3.2M) under a pre-arranged Rule 10b5-1 plan and cut his holding by ~52.6%. Large insider sales can be read negatively by investors despite the 10b5-1 disclosure. SEC Form 4 — Stanley Tang sale
• Negative Sentiment: Safety and PR risk: An 18-year-old DoorDash delivery worker was killed in a hit-and-run, and separate incidents include vehicle thefts from drivers and a police chase. These stories raise driver-safety, insurance, liability and recruitment concerns. 18-year-old man delivering food for DoorDash killed in Southwest Side hit-and-run: family
• Negative Sentiment: Operational risk — vehicle thefts and related arrests were reported (North Charleston theft/arrest and a separate chase/crash), underscoring on-the-ground safety and potential cost implications. Teen arrested for DoorDash car theft in North Charleston Man steals car from DoorDash driver, leads police on chase
• Negative Sentiment: Fraud/tax exposure: Reports that scammers use stolen identities to work for DoorDash (leaving victims with tax bills) highlight compliance, verification and potential remediation costs. Scammers use stolen identities to work for DoorDash

About DoorDash

(Get Free Report)

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.

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