DoorDash (NASDAQ:DASH) CFO Sells $3,590,623.80 in Stock

Key Points

• DoorDash CFO Ravi Inukonda sold 19,095 shares on July 8 at an average price of $188.04, totaling about $3.59 million. After the sale, he still held 252,443 shares worth roughly $47.5 million, and the trade was made under a pre-arranged Rule 10b5-1 plan.
• DoorDash stock was slightly lower in Friday trading, down 0.3% to $191.82. The company has a market cap of $83.58 billion and has traded between $143.30 and $285.50 over the past 52 weeks.
• Analysts remain generally constructive on DoorDash, with a consensus rating of Moderate Buy and an average price target of $256.08. The company recently beat EPS estimates for the quarter, though revenue came in a bit below expectations.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) CFO Ravi Inukonda sold 19,095 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the transaction, the chief financial officer directly owned 252,443 shares in the company, valued at approximately $47,469,381.72. This represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DoorDash Trading Down 0.3%

DASH traded down $0.53 during trading on Friday, reaching $191.82. The company had a trading volume of 2,623,368 shares, compared to its average volume of 4,943,544. The stock has a market cap of $83.58 billion, a P/E ratio of 91.34 and a beta of 1.78. The business has a 50 day simple moving average of $167.31 and a 200-day simple moving average of $179.18. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business's revenue was up 33.1% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On DoorDash

Several large investors have recently added to or reduced their stakes in DASH. Eastern Bank raised its stake in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. MV Capital Management Inc. bought a new position in DoorDash in the fourth quarter worth approximately $26,000. Swiss RE Ltd. purchased a new position in DoorDash during the 4th quarter worth $28,000. ST Germain D J Co. Inc. bought a new stake in DoorDash during the 4th quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in DoorDash during the 4th quarter valued at $32,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on DASH shares. BTIG Research decreased their price objective on shares of DoorDash from $280.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, June 12th. Wells Fargo & Company cut their target price on DoorDash from $200.00 to $199.00 and set an "equal weight" rating on the stock in a research note on Monday. Weiss Ratings upgraded DoorDash from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. Rothschild & Co Redburn set a $350.00 price target on DoorDash in a research note on Tuesday, May 12th. Finally, The Goldman Sachs Group set a $280.00 price target on DoorDash in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $256.08.

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.

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