DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Stanley Tang sold 2,160 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total value of $476,539.20. Following the sale, the director owned 38,058 shares of the company's stock, valued at approximately $8,396,355.96. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Stanley Tang also recently made the following trade(s):
- On Friday, August 21st, Stanley Tang sold 72,367 shares of DoorDash stock. The stock was sold at an average price of $225.16, for a total value of $16,294,153.72.
- On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The shares were sold at an average price of $225.00, for a total value of $2,249,775.00.
- On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The stock was sold at an average price of $200.63, for a total transaction of $13,581,246.59.
- On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75.
DoorDash Trading Up 2.5%
Shares of DoorDash stock opened at $229.06 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a market capitalization of $99.25 billion, a price-to-earnings ratio of 119.93 and a beta of 1.78. The firm's 50-day moving average price is $193.97 and its two-hundred day moving average price is $175.40.
DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. DoorDash's quarterly revenue was up 35.6% compared to the same quarter last year. On average, analysts forecast that DoorDash, Inc. will post 2.46 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
DASH has been the subject of several recent analyst reports. TD Cowen upped their target price on DoorDash from $225.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Jefferies Financial Group lifted their price target on DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Citigroup reissued a "market outperform" rating on shares of DoorDash in a report on Monday. Truist Financial upped their price objective on DoorDash from $330.00 to $336.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Susquehanna raised their price objective on DoorDash from $225.00 to $250.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Twenty-three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $254.53.
Read Our Latest Stock Analysis on DoorDash
More DoorDash News
Here are the key news stories impacting DoorDash this week:
- Positive Sentiment: DoorDash participated in Airbound’s $37 million funding round. Airbound develops delivery drones and plans to use the capital to expand manufacturing, giving DoorDash exposure to technology that could eventually improve delivery speed and operating efficiency. The investment is a longer-term strategic catalyst rather than an immediate earnings driver. Airbound raises $37 million from Greenoaks, DoorDash, others; aims to scale up drone delivery Airbound Bags $37 Mn From Greenoaks, DoorDash To Scale Drone Manufacturing
- Positive Sentiment: DoorDash launched a season-long college football rewards program and a related marketing campaign featuring Reggie Bush, Jameis Winston and Lane Kiffin. The initiatives could increase brand visibility, customer engagement and order volume during a major sports season, though the articles provide no financial guidance or expected revenue impact. DoorDash Launches Season-Long Rewards Program for College Football Fans Reggie Bush, Jameis Winston And Lane Kiffin Star In New DoorDash Campaign
- Neutral Sentiment: COO Prabir Adarkar and director Stanley Tang reported several stock sales totaling roughly $22.8 million. The transactions were conducted under a Rule 10b5-1 plan or to cover tax withholding on vested equity awards, reducing their bearish significance; however, the scale of the sales may attract some investor attention. DoorDash insider transaction filings
- Neutral Sentiment: A roundup naming DoorDash among restaurant stocks to watch provides limited new information and is unlikely to materially change the investment outlook. Best Restaurant Stocks To Watch Now - August 21st
Institutional Trading of DoorDash
A number of hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its stake in DoorDash by 707.8% in the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company's stock valued at $57,378,000 after acquiring an additional 221,985 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of DoorDash by 9.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company's stock worth $35,548,000 after purchasing an additional 13,121 shares during the period. Allstate Corp lifted its holdings in shares of DoorDash by 116.7% in the 4th quarter. Allstate Corp now owns 29,227 shares of the company's stock worth $6,619,000 after purchasing an additional 15,741 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Finally, JCP Investment Management LLC bought a new position in DoorDash in the 1st quarter valued at about $991,000. Institutional investors and hedge funds own 90.64% of the company's stock.
DoorDash Company Profile
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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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