Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CEO Sells 108,332 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) CEO Tony Xu sold 108,332 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $178.74, for a total value of $19,363,261.68. Following the transaction, the chief executive officer now owns 1,500 shares in the company, valued at $268,110. The trade was a 98.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Tony Xu also recently made the following trade(s):

• On Monday, December 2nd, Tony Xu sold 115,432 shares of DoorDash stock. The shares were sold at an average price of $177.01, for a total transaction of $20,432,618.32.
• On Tuesday, November 26th, Tony Xu sold 108,334 shares of DoorDash stock. The shares were sold at an average price of $180.07, for a total transaction of $19,507,703.38.
• On Friday, November 15th, Tony Xu sold 108,332 shares of DoorDash stock. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00.
• On Tuesday, October 15th, Tony Xu sold 81,249 shares of DoorDash stock. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63.
• On Monday, September 23rd, Tony Xu sold 54,166 shares of DoorDash stock. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96.

DoorDash Trading Down 6.6 %

NASDAQ DASH traded down $11.61 during trading hours on Wednesday, hitting $165.39. 4,574,724 shares of the company's stock were exchanged, compared to its average volume of 3,724,430. The firm has a market cap of $68.70 billion, a price-to-earnings ratio of -367.53, a PEG ratio of 13.56 and a beta of 1.70. The stock has a 50-day simple moving average of $166.69 and a 200 day simple moving average of $136.89. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.78.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted ($0.19) EPS. DoorDash's revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC raised its holdings in DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company's stock worth $309,755,000 after buying an additional 1,246,567 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company's stock valued at $154,486,000 after buying an additional 739,961 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company's stock valued at $79,385,000 after buying an additional 708,218 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock worth $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on DASH shares. Piper Sandler raised their price target on DoorDash from $125.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an "equal weight" rating in a report on Friday, October 4th. Raymond James assumed coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an "outperform" rating and a $155.00 price target on the stock. BTIG Research upgraded shares of DoorDash from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Finally, Jefferies Financial Group raised their target price on DoorDash from $155.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $168.39.

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.