DoorDash (NASDAQ:DASH) COO Sells $6,799,285.76 in Stock

Key Points

• Prabir Adarkar, the COO of DoorDash, sold 24,968 shares of the company for a total of $6,799,285.76, resulting in a 2.67% decrease in his holdings.
• DoorDash's stock is currently trading at $266.60, with a market cap of $113.89 billion, and has experienced year-over-year revenue growth of 24.9%.
• Several institutional investors, including Vanguard Group and State Street Corp, have recently increased their stakes in DoorDash, with 90.64% of the stock being held by institutional investors.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) COO Prabir Adarkar sold 24,968 shares of the company's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total transaction of $6,799,285.76. Following the completion of the transaction, the chief operating officer owned 909,579 shares of the company's stock, valued at approximately $247,696,553.28. The trade was a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, September 29th, Prabir Adarkar sold 30,000 shares of DoorDash stock. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00.
• On Monday, August 25th, Prabir Adarkar sold 41,881 shares of DoorDash stock. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42.
• On Thursday, July 24th, Prabir Adarkar sold 30,000 shares of DoorDash stock. The stock was sold at an average price of $243.02, for a total transaction of $7,290,600.00.

DoorDash Stock Performance

DoorDash stock traded down $6.01 during trading hours on Thursday, reaching $266.60. 3,254,673 shares of the stock were exchanged, compared to its average volume of 4,366,159. The stock has a market cap of $113.89 billion, a P/E ratio of 148.11 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 52-week low of $149.80 and a 52-week high of $285.50. The firm's 50 day moving average is $259.32 and its 200 day moving average is $228.44.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion during 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%. DoorDash's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.38) EPS. Analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of DoorDash by 4.6% during the second quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company's stock worth $10,153,768,000 after buying an additional 1,792,799 shares in the last quarter. State Street Corp boosted its position in shares of DoorDash by 3.1% in the second quarter. State Street Corp now owns 14,387,499 shares of the company's stock worth $3,546,662,000 after acquiring an additional 427,722 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of DoorDash by 2.9% in the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company's stock worth $1,950,711,000 after acquiring an additional 223,188 shares during the last quarter. Invesco Ltd. boosted its position in shares of DoorDash by 12.0% in the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company's stock worth $1,325,110,000 after acquiring an additional 575,629 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after acquiring an additional 641,601 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DASH. Wells Fargo & Company cut their price objective on shares of DoorDash from $306.00 to $301.00 and set an "equal weight" rating for the company in a research report on Friday, October 3rd. Needham & Company LLC set a $300.00 price target on shares of DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. UBS Group increased their price target on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Finally, Truist Financial increased their price target on shares of DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $282.47.

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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