Short Interest in DoorDash, Inc. (NASDAQ:DASH) Rises By 12.3%

DoorDash, Inc. (NASDAQ:DASH) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 13,170,000 shares, a growth of 12.3% from the August 31st total of 11,730,000 shares. Based on an average trading volume of 4,060,000 shares, the short-interest ratio is currently 3.2 days.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold 281,503 shares of company stock valued at $33,988,063 in the last ninety days. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DASH. Paragon Capital Management Inc. acquired a new position in shares of DoorDash during the second quarter worth about $1,309,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of DoorDash in the 2nd quarter valued at $3,812,000. Sanctuary Advisors LLC acquired a new stake in shares of DoorDash in the 2nd quarter valued at $779,000. Dana Investment Advisors Inc. lifted its position in shares of DoorDash by 7.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 38,935 shares of the company’s stock worth $4,235,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of DoorDash by 0.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 155,950 shares of the company’s stock worth $16,964,000 after purchasing an additional 605 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Down 1.0 %

NASDAQ:DASH traded down $1.46 on Tuesday, reaching $141.27. 1,281,138 shares of the company’s stock were exchanged, compared to its average volume of 3,923,493. The firm has a market capitalization of $57.77 billion, a price-to-earnings ratio of -132.16, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. DoorDash has a 52-week low of $69.90 and a 52-week high of $146.36. The business has a fifty day moving average of $125.87 and a 200-day moving average of $121.89.

DoorDash (NASDAQ:DASH) last announced its earnings results 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 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company earned ($0.44) earnings per share. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, equities analysts anticipate that DoorDash will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DASH. Susquehanna upped their price objective on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, August 5th. DA Davidson boosted their price objective on DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Argus started coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Truist Financial lifted their price target on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $146.44.

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.