Investors Buy Large Volume of DoorDash Call Options (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the recipient of some unusual options trading on Friday. Traders purchased 77,551 call options on the stock. This represents an increase of approximately 278% compared to the average volume of 20,525 call options.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DASH. UBS Group decreased their target price on DoorDash from $197.00 to $196.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC increased their price objective on DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. FBN Securities assumed coverage on DoorDash in a research note on Friday, March 28th. They set an “outperform” rating and a $230.00 target price for the company. Evercore ISI reissued an “outperform” rating on shares of DoorDash in a research note on Monday, March 10th. Finally, Morgan Stanley reduced their price objective on DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.21.

DoorDash Price Performance

Shares of DASH opened at $220.46 on Friday. The company has a market capitalization of $93.42 billion, a P/E ratio of 286.32 and a beta of 1.67. DoorDash has a one year low of $99.32 and a one year high of $223.81. The business’s 50 day simple moving average is $200.53 and its 200-day simple moving average is $189.25.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, sell-side analysts anticipate that DoorDash will post 2.22 EPS for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 62,267 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer now owns 942,554 shares in the company, valued at approximately $191,027,419.18. The trade was a 6.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director now directly owns 22,545 shares of the company’s stock, valued at $4,903,988.40. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,274 shares of company stock worth $69,198,499. 5.83% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC grew 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 valued at $1,566,000 after buying an additional 1,807 shares during the period. Principal Financial Group Inc. boosted its stake in DoorDash by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company’s stock worth $15,665,000 after purchasing an additional 2,596 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of DoorDash by 36.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company’s stock worth $323,000 after buying an additional 512 shares during the last quarter. Truist Financial Corp boosted its stake in shares of DoorDash by 35.1% during the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company’s stock worth $1,442,000 after buying an additional 2,233 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of DoorDash by 26.9% during the 4th quarter. Allworth Financial LP now owns 840 shares of the company’s stock worth $149,000 after buying an additional 178 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

About DoorDash

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.