Insider Selling: DoorDash (NASDAQ:DASH) CEO Sells 34,167 Shares of Stock

Key Points

• Tony Xu, CEO of DoorDash, sold 34,167 shares at an average price of $247.78, totaling approximately $8.47 million, reducing his ownership by 6.16% to 520,450 shares.
• DoorDash reported $3.28 billion in revenue for the last quarter, exceeding analysts' expectations and achieving a year-over-year revenue increase of 24.9%.
• Wells Fargo raised its target price for DoorDash from $239.00 to $280.00 while maintaining an "equal weight" rating as part of several positive analyst updates.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) CEO Tony Xu sold 34,167 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $247.78, for a total transaction of $8,465,899.26. Following the transaction, the chief executive officer owned 520,450 shares in the company, valued at $128,957,101. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Tony Xu also recently made the following trade(s):

• On Monday, August 11th, Tony Xu sold 51,250 shares of DoorDash stock. The stock was sold at an average price of $255.89, for a total transaction of $13,114,362.50.
• On Friday, July 25th, Tony Xu sold 30,124 shares of DoorDash stock. The shares were sold at an average price of $250.02, for a total transaction of $7,531,602.48.
• On Monday, July 28th, Tony Xu sold 4,042 shares of DoorDash stock. The shares were sold at an average price of $250.28, for a total transaction of $1,011,631.76.
• On Tuesday, July 15th, Tony Xu sold 34,167 shares of DoorDash stock. The shares were sold at an average price of $236.80, for a total transaction of $8,090,745.60.
• On Tuesday, July 1st, Tony Xu sold 34,167 shares of DoorDash stock. The shares were sold at an average price of $240.66, for a total transaction of $8,222,630.22.
• On Monday, June 16th, Tony Xu sold 44,244 shares of DoorDash stock. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24.

DoorDash Stock Up 1.1%

Shares of NASDAQ:DASH traded up $2.6530 during trading hours on Friday, reaching $247.8330. The stock had a trading volume of 1,538,581 shares, compared to its average volume of 4,712,437. DoorDash, Inc. has a 1 year low of $122.32 and a 1 year high of $278.15. The firm's 50 day moving average is $242.36 and its 200-day moving average is $210.56. 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 capitalization of $105.87 billion, a price-to-earnings ratio of 137.74 and a beta of 1.70.

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

Hedge Funds Weigh In On DoorDash

A number of large investors have recently made changes to their positions in DASH. Saudi Central Bank purchased a new position in DoorDash during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new position in DoorDash during the 1st quarter valued at about $26,000. Pacific Center for Financial Services purchased a new position in DoorDash during the 1st quarter valued at about $27,000. GFG Capital LLC purchased a new position in DoorDash during the 2nd quarter valued at about $30,000. Finally, Harbour Investments Inc. increased its holdings in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DASH shares. BTIG Research increased their price target on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. BMO Capital Markets increased their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Morgan Stanley raised their target price on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Roth Capital raised their target price on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Bank of America raised their target price on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently 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.