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

DoorDash, Inc. (NASDAQ:DASH) was the recipient of some unusual options trading on Wednesday. Stock investors bought 70,237 call options on the stock. This is an increase of 361% compared to the average daily volume of 15,247 call options.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 843,196 shares of company stock valued at $137,525,818. Insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Brighton Jones LLC increased its stake in DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after buying an additional 82 shares during the last quarter. Everhart Financial Group Inc. grew its holdings in shares of DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares in the last quarter. E Fund Management Co. Ltd. increased its position in shares of DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after acquiring an additional 111 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in DoorDash by 39.0% during the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after acquiring an additional 119 shares during the period. Finally, Rakuten Securities Inc. boosted its position in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Up 1.4 %

NASDAQ DASH traded up $2.51 during trading hours on Wednesday, hitting $176.41. The company’s stock had a trading volume of 3,033,987 shares, compared to its average volume of 3,741,918. The company’s 50-day simple moving average is $162.87 and its two-hundred day simple moving average is $134.39. The company has a market capitalization of $73.28 billion, a PE ratio of -386.44, a price-to-earnings-growth ratio of 14.09 and a beta of 1.70. DoorDash has a 52 week low of $93.33 and a 52 week high of $181.30.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. Research analysts anticipate that DoorDash will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on DASH. Benchmark upped their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Citigroup boosted their price target on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Susquehanna increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Finally, JMP Securities boosted their price objective on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.27.

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.