DoorDash (NASDAQ:DASH) Sees Strong Trading Volume

Shares of DoorDash, Inc. (NASDAQ:DASH) saw strong trading volume on Tuesday . Approximately 1,408,990 shares were traded during trading, a decline of 65% from the previous session’s volume of 4,062,553 shares.The stock last traded at $127.71 and had previously closed at $128.62.

Analyst Ratings Changes

A number of analysts recently issued reports on DASH shares. KeyCorp started coverage on DoorDash in a research note on Thursday, July 11th. They set a “sector weight” rating for the company. Truist Financial boosted their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada cut their price target on DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. JMP Securities increased their price objective on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Finally, Roth Mkm boosted their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.93.

DoorDash Stock Performance

The stock has a market capitalization of $52.61 billion, a price-to-earnings ratio of -119.09, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67. The business has a fifty day simple moving average of $113.92 and a 200 day simple moving average of $120.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the firm earned ($0.44) EPS. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 12,088 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the sale, the insider now directly owns 161,651 shares of the company’s stock, valued at approximately $18,079,047.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Keith Yandell sold 12,088 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the completion of the sale, the insider now owns 161,651 shares of the company’s stock, valued at approximately $18,079,047.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The disclosure for this sale can be found here. Insiders have sold a total of 506,447 shares of company stock worth $56,314,905 in the last 90 days. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

Several large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky lifted its stake in shares of DoorDash by 0.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock valued at $16,964,000 after acquiring an additional 605 shares during the last quarter. Cetera Investment Advisers increased its holdings in DoorDash by 7.2% in the 2nd quarter. Cetera Investment Advisers now owns 11,747 shares of the company’s stock worth $1,278,000 after purchasing an additional 788 shares in the last quarter. Quarry LP acquired a new stake in shares of DoorDash during the second quarter valued at about $60,000. Algert Global LLC bought a new stake in shares of DoorDash during the second quarter worth about $338,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of DoorDash in the second quarter valued at approximately $6,005,000. 90.64% of the stock is owned by institutional investors and hedge funds.

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.