DoorDash (NASDAQ:DASH) Shares Gap Up to $100.28

DoorDash, Inc. (NASDAQ:DASH) gapped up prior to trading on Friday . The stock had previously closed at $100.28, but opened at $103.50. DoorDash shares last traded at $102.80, with a volume of 620,923 shares.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. BMO Capital Markets dropped their target price on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Thursday, May 2nd. KeyCorp started coverage on DoorDash in a research report on Thursday, July 11th. They issued a “sector weight” rating on the stock. Finally, Wolfe Research started coverage on DoorDash in a research report on Tuesday. They issued an “outperform” rating and a $130.00 target price on the stock. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $134.60.

DoorDash Stock Performance

The company’s 50-day simple moving average is $111.03 and its 200 day simple moving average is $117.72.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.41) EPS. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total transaction of $14,686,759.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 459,016 shares of company stock valued at $50,495,566. 7.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Spire Wealth Management purchased a new position in DoorDash in the 1st quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its stake in DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after buying an additional 90 shares in the last quarter. Versant Capital Management Inc grew its stake in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares in the last quarter. ORG Partners LLC grew its stake in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in DoorDash by 361.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after buying an additional 307 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

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.