DoorDash, Inc. (NASDAQ:DASH) Director Shona L. Brown Sells 1,650 Shares

Key Points

• Shona L. Brown, Director of DoorDash, sold 1,650 shares of stock for approximately $448,800, reducing their ownership by 3.80% to around 41,827 shares.
• DoorDash reported a 24.9% year-over-year increase in revenue, achieving $3.28 billion for the quarter, along with an EPS of $0.65, exceeding expectations.
• Several analysts have raised their price targets for DoorDash, with Oppenheimer increasing theirs from $280 to $310, while the stock currently holds a consensus rating of "Moderate Buy."

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Shona L. Brown sold 1,650 shares of DoorDash stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $272.00, for a total value of $448,800.00. Following the completion of the transaction, the director directly owned 41,827 shares of the company's stock, valued at approximately $11,376,944. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

DoorDash Trading Down 5.1%

Shares of NASDAQ DASH traded down $13.54 during trading hours on Wednesday, hitting $250.78. The company's stock had a trading volume of 1,850,866 shares, compared to its average volume of 4,761,858. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $106.27 billion, a price-to-earnings ratio of 139.46 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15. The business has a 50-day simple moving average of $237.98 and a 200-day simple moving average of $207.72.

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

Institutional Trading of DoorDash

Large investors have recently modified their holdings of the business. New York State Common Retirement Fund boosted its position in DoorDash by 11.6% during the 2nd quarter. New York State Common Retirement Fund now owns 454,177 shares of the company's stock valued at $111,959,000 after acquiring an additional 47,100 shares in the last quarter. West Family Investments Inc. bought a new stake in DoorDash during the 2nd quarter valued at approximately $408,000. Williamson Legacy Group LLC purchased a new position in shares of DoorDash during the second quarter valued at approximately $1,264,000. Schroder Investment Management Group lifted its holdings in shares of DoorDash by 3.7% during the second quarter. Schroder Investment Management Group now owns 101,890 shares of the company's stock valued at $25,117,000 after purchasing an additional 3,652 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of DoorDash by 34.7% during the second quarter. Mackenzie Financial Corp now owns 95,452 shares of the company's stock valued at $23,530,000 after purchasing an additional 24,595 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DASH. Wells Fargo & Company lifted their price objective on DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Truist Financial boosted their target price on DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Needham & Company LLC set a $300.00 price target on DoorDash and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price target on DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.