Andy Fang Sells 50,000 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

Key Points

• Andy Fang, a director at DoorDash, Inc. (NASDAQ:DASH), sold 50,000 shares at an average price of $275.74, totaling approximately $13.79 million, reducing his position by 68.92%.
• The recent sales by Fang also include transactions where he sold 30,000 shares on multiple occasions, indicating a significant liquidity event affecting his holdings.
• DoorDash reported $0.65 earnings per share for the latest quarter, exceeding analysts' expectations, with revenue up 24.9% year-over-year, showcasing robust financial performance amidst stock trades.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Andy Fang also recently made the following trade(s):

• On Friday, August 1st, Andy Fang sold 30,000 shares of DoorDash stock. The stock was sold at an average price of $247.04, for a total transaction of $7,411,200.00.
• On Tuesday, July 1st, Andy Fang sold 30,000 shares of DoorDash stock. The shares were sold at an average price of $240.66, for a total value of $7,219,800.00.
• On Thursday, June 5th, Andy Fang sold 30,000 shares of DoorDash stock. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00.

DoorDash Trading Down 5.1%

Shares of DASH stock traded down $13.54 during trading hours on Wednesday, hitting $250.78. 1,850,866 shares of the company were exchanged, compared to its average volume of 4,761,858. The firm has a market cap of $106.27 billion, a PE ratio of 139.46 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $122.32 and a 1 year high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $237.98 and a 200 day moving average of $207.72.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) earnings per share. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On DoorDash

Hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC acquired a new position in shares of DoorDash during the first quarter valued at $7,200,000. Blair William & Co. IL increased its stake in DoorDash by 12.8% in the 1st quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after purchasing an additional 551 shares in the last quarter. Brighton Jones LLC increased its stake in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in DoorDash by 14.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after purchasing an additional 206 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in DoorDash by 70.4% in the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after purchasing an additional 794 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $325.00 price objective (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. KeyCorp reissued an "overweight" rating and set a $325.00 target price (up from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Evercore ISI reissued an "outperform" rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Finally, Wedbush reissued a "neutral" rating on shares of DoorDash in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $263.88.

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.