DoorDash (NASDAQ:DASH) COO Prabir Adarkar Sells 30,000 Shares

Key Points

• Prabir Adarkar, COO of DoorDash, sold 30,000 shares at an average price of $270.60, totaling approximately $8.12 million, reducing his ownership in the company by 3.18%.
• DoorDash reported earnings of $0.65 per share, surpassing expectations by $0.23, and achieved quarterly revenue of $3.28 billion, up 24.9% year-over-year.
• Investment analysts show confidence in DoorDash, with a consensus rating of "Moderate Buy" and an average target price of $275.42.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) COO Prabir Adarkar sold 30,000 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $270.60, for a total value of $8,118,000.00. Following the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $247,476,418.20. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Prabir Adarkar also recently made the following trade(s):

• On Monday, August 25th, Prabir Adarkar sold 41,881 shares of DoorDash stock. The shares were sold at an average price of $245.82, for a total value of $10,295,187.42.
• On Thursday, July 24th, Prabir Adarkar sold 30,000 shares of DoorDash stock. The shares were sold at an average price of $243.02, for a total value of $7,290,600.00.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $4.35 during trading on Wednesday, hitting $267.64. 2,493,003 shares of the company were exchanged, compared to its average volume of 4,477,802. The company has a market cap of $114.33 billion, a PE ratio of 148.69 and a beta of 1.70. The stock has a 50 day moving average of $254.02 and a 200 day moving average of $222.46. DoorDash, Inc. has a 52-week low of $140.62 and a 52-week high of $278.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

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 firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.38) earnings per share. As a group, equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America increased their target price on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Sanford C. Bernstein increased their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Piper Sandler increased their price objective on DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Raymond James Financial reiterated a "strong-buy" rating and issued a $325.00 price objective (up previously from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Finally, Zacks Research upgraded DoorDash to a "hold" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $275.42.

Institutional Investors Weigh In On DoorDash

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the period. Norges Bank purchased a new stake in DoorDash during the 2nd quarter valued at about $1,185,576,000. AQR Capital Management LLC boosted its holdings in DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. boosted its holdings in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the period. Finally, Nuveen LLC purchased a new stake in DoorDash during the 1st quarter valued at about $211,415,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

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.

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