Prabir Adarkar Sells 21,739 Shares of DoorDash (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 21,739 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Prabir Adarkar also recently made the following trade(s):

• On Monday, April 20th, Prabir Adarkar sold 10,000 shares of DoorDash stock. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00.
• On Monday, March 23rd, Prabir Adarkar sold 10,000 shares of DoorDash stock. The stock was sold at an average price of $158.97, for a total transaction of $1,589,700.00.

DoorDash Trading Up 1.7%

Shares of DoorDash stock opened at $159.29 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 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 $69.41 billion, a price-to-earnings ratio of 75.85 and a beta of 1.87. The firm’s 50-day moving average price is $162.21 and its two-hundred day moving average price is $187.31.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoorDash

A number of institutional investors and hedge funds have recently bought and sold shares of DASH. Bank of America Corp DE raised its position in DoorDash by 18.4% in the first quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock valued at $517,907,000 after purchasing an additional 536,080 shares during the last quarter. Anson Funds Management LP acquired a new stake in shares of DoorDash during the first quarter valued at about $1,314,000. Janus Henderson Group PLC grew its holdings in shares of DoorDash by 40.2% during the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after purchasing an additional 2,225,954 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of DoorDash by 4.8% during the first quarter. Arkadios Wealth Advisors now owns 5,998 shares of the company’s stock worth $901,000 after purchasing an additional 272 shares during the last quarter. Finally, Spyglass Capital Management LLC increased its stake in shares of DoorDash by 10.2% in the first quarter. Spyglass Capital Management LLC now owns 298,176 shares of the company’s stock valued at $44,771,000 after buying an additional 27,606 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash announced a partnership with Dollar Tree that will bring on-demand delivery to Dollar Tree’s full U.S. store footprint, opening access to more than 9,000 stores and over 10,000 products. Investors may view this as a meaningful expansion beyond restaurant delivery and a potential driver of order growth. DoorDash and Dollar Tree Partner to Bring Greater Value and Thrill of the Hunt Discovery On-Demand
• Positive Sentiment: Jim Cramer said he thinks DoorDash “is a buy,” adding another bullish media mention that can help sentiment around the stock. Jim Cramer Says He Thinks “DoorDash Is a Buy”
• Neutral Sentiment: Commentary about the food-delivery industry said the competitive battle is entering a more aggressive phase. That could support DoorDash’s scale advantages, but it also suggests continued pressure to defend market share and margins. The Food Delivery War Just Entered Its Final Phase
• Negative Sentiment: Several insider sales were disclosed, including trades by COO Prabir Adarkar, General Counsel Tia Sherringham, and insider Keith Yandell. The sales were made under pre-arranged 10b5-1 plans, but insider selling can still make some investors cautious. Prabir Adarkar insider trade

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DASH. Stifel Nicolaus reduced their target price on DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 13th. BTIG Research restated a “buy” rating and set a $280.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Benchmark raised their price objective on DoorDash from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Evercore set a $300.00 target price on DoorDash in a research report on Thursday, February 19th. Finally, Oppenheimer lowered their target price on DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued 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 an average target price of $259.58.

DoorDash Company Profile

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.