DoorDash Target of Unusually High Options Trading (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the target of unusually large options trading activity on Monday. Investors purchased 24,870 call options on the company. This is an increase of approximately 115% compared to the typical daily volume of 11,582 call options.

Insider Transactions at DoorDash

In other DoorDash news, CFO Ravi Inukonda sold 19,095 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the transaction, the chief financial officer owned 252,443 shares in the company, valued at approximately $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the sale, the general counsel directly owned 128,216 shares in the company, valued at $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 142,620 shares of company stock valued at $26,822,778. Company insiders own 5.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in DoorDash by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock valued at $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. SC US Ttgp LTD. lifted its position in shares of DoorDash by 1.6% during the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after buying an additional 506,358 shares in the last quarter. Morgan Stanley lifted its position in shares of DoorDash by 2.3% during the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock valued at $3,971,741,000 after buying an additional 391,596 shares in the last quarter. State Street Corp grew its stake in shares of DoorDash by 3.0% during the 4th quarter. State Street Corp now owns 15,761,072 shares of the company’s stock valued at $3,569,568,000 after acquiring an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after acquiring an additional 3,447,754 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of DoorDash from $199.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Friday. Piper Sandler restated a “neutral” rating and issued a $220.00 target price (up from $205.00) on shares of DoorDash in a research note on Thursday. Barclays increased their price target on shares of DoorDash from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday. KeyCorp lowered their target price on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Finally, Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Twenty-three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.09.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $8.15 during midday trading on Monday, reaching $208.10. 3,428,571 shares of the company’s stock traded hands, compared to its average volume of 4,803,326. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. DoorDash has a one year low of $143.30 and a one year high of $285.50. The company has a market cap of $90.68 billion, a price-to-earnings ratio of 108.98 and a beta of 1.78. The stock has a 50 day moving average of $180.65 and a 200 day moving average of $174.56.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.34 billion. DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, equities research analysts anticipate that DoorDash will post 2.5 EPS for the current fiscal year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.