DoorDash, Inc. (NASDAQ:DASH) Short Interest Update

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 13,420,000 shares, an increase of 34.2% from the February 28th total of 10,000,000 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,320,000 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. Susquehanna increased their price objective on DoorDash from $180.00 to $235.00 and gave the company a "positive" rating in a research note on Thursday, February 13th. Wedbush increased their target price on shares of DoorDash from $160.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $155.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Barclays increased their price objective on shares of DoorDash from $163.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on DoorDash from $160.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $207.29.

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Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the sale, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $67,233,117.60. The trade was a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now owns 16,176 shares of the company's stock, valued at approximately $2,722,744.32. This trade represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,523 shares of company stock valued at $47,227,120 in the last three months. 7.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DASH. Pittenger & Anderson Inc. acquired a new stake in shares of DoorDash in the 4th quarter valued at $29,000. Denver PWM LLC purchased a new position in DoorDash in the fourth quarter valued at $30,000. Princeton Global Asset Management LLC purchased a new position in DoorDash in the fourth quarter valued at $34,000. ORG Wealth Partners LLC purchased a new stake in DoorDash during the 4th quarter worth about $36,000. Finally, IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

DASH stock traded down $15.26 during mid-day trading on Thursday, reaching $173.99. The company had a trading volume of 7,250,132 shares, compared to its average volume of 4,158,445. DoorDash has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The company has a market capitalization of $73.09 billion, a price-to-earnings ratio of 644.41 and a beta of 1.70. The firm has a fifty day simple moving average of $192.30 and a 200 day simple moving average of $173.24.

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.