DoorDash, Inc. (NASDAQ:DASH) CFO Sells $1,185,240.00 in Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $169.32, for a total transaction of $1,185,240.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at approximately $62,139,254.76. This represents a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ravi Inukonda also recently made the following trade(s):

• On Friday, November 29th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $179.76, for a total transaction of $1,258,320.00.
• On Wednesday, November 20th, Ravi Inukonda sold 14,219 shares of DoorDash stock. The shares were sold at an average price of $169.98, for a total transaction of $2,416,945.62.

DoorDash Stock Performance

DoorDash stock opened at $170.65 on Friday. The stock has a 50-day simple moving average of $170.94 and a 200 day simple moving average of $141.09. The stock has a market capitalization of $70.89 billion, a P/E ratio of -379.22, a PEG ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $93.33 and a 52 week high of $181.78.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the company posted ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on DASH shares. UBS Group boosted their target price on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Raymond James initiated coverage on DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. Bank of America raised their target price on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a report on Wednesday, September 25th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.70.

Hedge Funds Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its stake in DoorDash by 34.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company’s stock valued at $683,000 after buying an additional 1,611 shares during the last quarter. Banque Cantonale Vaudoise increased its stake in shares of DoorDash by 16.7% during the second quarter. Banque Cantonale Vaudoise now owns 2,009 shares of the company’s stock worth $219,000 after purchasing an additional 288 shares during the period. CIBC Asset Management Inc lifted its holdings in DoorDash by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 72,823 shares of the company’s stock worth $7,922,000 after purchasing an additional 3,529 shares during the last quarter. Rhumbline Advisers boosted its stake in DoorDash by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 409,866 shares of the company’s stock valued at $44,585,000 after purchasing an additional 13,639 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in DoorDash by 2.5% in the 2nd quarter. Victory Capital Management Inc. now owns 263,873 shares of the company’s stock valued at $28,704,000 after buying an additional 6,459 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Company Profile

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.