DoorDash (NASDAQ:DASH) Director Stanley Tang Sells 30,835 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 30,835 shares of DoorDash stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $225.98, for a total value of $6,968,093.30. Following the sale, the director directly owned 10,361 shares in the company, valued at $2,341,378.78. The trade was a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stanley Tang also recently made the following trade(s):

• On Monday, August 24th, Stanley Tang sold 10,134 shares of DoorDash stock. The stock was sold at an average price of $225.00, for a total value of $2,280,150.00.
• On Friday, August 21st, Stanley Tang sold 72,367 shares of DoorDash stock. The shares were sold at an average price of $225.16, for a total value of $16,294,153.72.
• On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The shares were sold at an average price of $225.00, for a total value of $2,249,775.00.
• On Thursday, August 20th, Stanley Tang sold 2,160 shares of DoorDash stock. The stock was sold at an average price of $220.62, for a total value of $476,539.20.
• On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The shares were sold at an average price of $200.63, for a total value of $13,581,246.59.
• On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75.

DoorDash Price Performance

Shares of DoorDash stock traded down $10.27 during mid-day trading on Friday, reaching $211.73. 4,137,410 shares of the stock were exchanged, compared to its average volume of 4,732,121. The company has a market cap of $91.74 billion, a price-to-earnings ratio of 110.85 and a beta of 1.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $203.24 and a 200 day simple moving average of $178.31. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the company posted $0.65 earnings per share. DoorDash’s quarterly revenue was up 35.6% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash, Inc. will post 2.49 EPS for the current fiscal year.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Rosenblatt Securities initiated coverage of DoorDash with a Buy rating, potentially supporting the stock by adding a bullish analyst view. Rosenblatt initiates coverage of DoorDash with buy recommendation
• Positive Sentiment: DoorDash expanded its grocery network through a nationwide delivery partnership with Natural Grocers, increasing access to potential orders and strengthening its non-restaurant business. Natural Grocers expands delivery nationwide through DoorDash
• Positive Sentiment: The company partnered with Live Nation to develop fan-focused delivery and promotional experiences, creating possible new demand and advertising opportunities. DoorDash partners with Live Nation
• Positive Sentiment: DoorDash’s workplace-meal offering is benefiting from companies bringing employees back to offices, providing another use case beyond individual restaurant deliveries. DoorDash workplace meals help bring employees back to the office
• Positive Sentiment: A partnership with Circana will provide independent validation for DoorDash’s advertising measurement, which could improve advertiser confidence and support growth in its higher-margin ads business. DoorDash teams with Circana on ad measurement
• Neutral Sentiment: Zacks notes that DoorDash is up 4.1% since its earnings release. The latest quarter featured revenue above expectations and 35.6% year-over-year growth, but earnings per share narrowly missed estimates and declined from the prior-year period, leaving investors focused on the company’s next results and outlook. Why is DoorDash up since its last earnings report?
• Negative Sentiment: CFO Ravi Inukonda sold 16,044 shares worth about $3.7 million. The transaction was made under a pre-arranged Rule 10b5-1 plan, reducing its signaling significance, but insider selling can still weigh modestly on sentiment.
• Negative Sentiment: Walmart is expanding restaurant delivery with Dunkin’, intensifying competition for DoorDash and Uber Eats. Walmart expands restaurant delivery
• Negative Sentiment: Sands Capital Select Growth Fund disclosed that it sold DoorDash shares in the second quarter, representing an institutional ownership reduction and a potential overhang. Sands Capital Select Growth Fund sold DoorDash shares

Institutional Investors Weigh In On DoorDash

Institutional investors and hedge funds have recently modified their holdings of the business. CYBER HORNET ETFs LLC grew its holdings in DoorDash by 6.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock worth $222,000 after acquiring an additional 60 shares during the period. Vise Technologies Inc. boosted its position in shares of DoorDash by 1.8% in the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after purchasing an additional 63 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in shares of DoorDash by 81.0% during the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after purchasing an additional 64 shares during the period. Premier Path Wealth Partners LLC increased its holdings in DoorDash by 2.7% in the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock valued at $465,000 after purchasing an additional 67 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares during the period. 90.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DASH shares. KeyCorp lowered their target price on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. DA Davidson reduced their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of DoorDash from $199.00 to $225.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a research report on Tuesday, May 12th. Finally, Roth Capital boosted their target price on shares of DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $254.97.

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.