Insider Selling: DoorDash (NASDAQ:DASH) CFO Sells $3,590,623.80 in Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 19,095 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total value of $3,590,623.80. Following the sale, the chief financial officer directly owned 252,443 shares of the company’s stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DoorDash Stock Performance

Shares of DASH stock opened at $191.82 on Monday. The company has a market capitalization of $83.58 billion, a P/E ratio of 91.34 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $167.76 and its two-hundred day moving average is $178.88. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the firm posted $0.44 EPS. DoorDash’s quarterly revenue was up 33.1% on a year-over-year basis. Equities analysts forecast that DoorDash, Inc. will post 2.41 EPS for the current year.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently made changes to their positions in DASH. Keel Point LLC grew its stake in shares of DoorDash by 4.3% during the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after purchasing an additional 58 shares during the period. CYBER HORNET ETFs LLC lifted its stake in shares of DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after purchasing an additional 60 shares during the period. Vise Technologies Inc. boosted its holdings in DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after buying an additional 63 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in DoorDash by 7.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock worth $222,000 after buying an additional 64 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BTIG Research lowered their target price on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, June 12th. Wells Fargo & Company cut their price target on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Guggenheim restated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a research report on Tuesday, June 23rd. DA Davidson reduced their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $280.00 price objective on DoorDash in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $256.08.

About DoorDash

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.