DoorDash Target of Unusually Large Options Trading (NYSE:DASH)

DoorDash, Inc. (NYSE:DASH – Get Rating) saw some unusual options trading activity on Friday. Stock traders bought 66,572 put options on the stock. This represents an increase of approximately 126% compared to the average volume of 29,475 put options.

DoorDash Stock Performance

Shares of DoorDash stock opened at $59.64 on Friday. The company has a fifty day simple moving average of $57.46 and a 200-day simple moving average of $54.68. DoorDash has a 12-month low of $41.37 and a 12-month high of $130.20.

DoorDash (NYSE:DASH – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.07. DoorDash had a negative net margin of 20.74% and a negative return on equity of 15.12%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.77 billion. Equities research analysts forecast that DoorDash will post -2.14 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $53.07, for a total value of $7,021,161.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $53.07, for a total value of $7,021,161.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $47.32, for a total transaction of $59,150.00. Following the completion of the sale, the director now owns 82,278 shares in the company, valued at approximately $3,893,394.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 308,424 shares of company stock worth $16,529,181. 15.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On DoorDash

A number of large investors have recently bought and sold shares of DASH. Vanguard Group Inc. raised its position in DoorDash by 42.8% during the 3rd quarter. Vanguard Group Inc. now owns 25,013,265 shares of the company’s stock worth $1,236,906,000 after buying an additional 7,495,795 shares during the last quarter. Norges Bank purchased a new position in shares of DoorDash in the 4th quarter valued at about $132,721,000. Coatue Management LLC increased its holdings in shares of DoorDash by 201.5% in the 3rd quarter. Coatue Management LLC now owns 2,819,599 shares of the company’s stock valued at $139,429,000 after purchasing an additional 1,884,438 shares in the last quarter. Amundi increased its holdings in shares of DoorDash by 1,801.6% in the 4th quarter. Amundi now owns 1,797,416 shares of the company’s stock valued at $93,106,000 after purchasing an additional 1,702,894 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of DoorDash by 259.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,262,900 shares of the company’s stock valued at $145,210,000 after purchasing an additional 1,632,700 shares in the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DASH shares. Moffett Nathanson started coverage on shares of DoorDash in a research report on Monday, January 30th. They set an “outperform” rating and a $79.00 price target on the stock. Needham & Company LLC lifted their target price on shares of DoorDash from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Wells Fargo & Company lifted their target price on shares of DoorDash from $71.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. Barclays lifted their target price on shares of DoorDash from $60.00 to $70.00 in a research note on Friday, February 17th. Finally, Bank of America reduced their target price on shares of DoorDash from $80.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, February 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.95.

DoorDash Company Profile

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.