DoorDash (NASDAQ:DASH) CFO Ravi Inukonda Sells 1,017 Shares of Stock

Key Points

• DoorDash CFO Ravi Inukonda sold 1,017 shares at an average price of $195, generating $198,315 under a pre-arranged Rule 10b5-1 trading plan. He continues to own 217,911 shares directly.
• DoorDash shares fell to $184.01, while the company reported quarterly revenue of $4.45 billion, up 35.6% year over year, but earnings of $0.46 per share narrowly missed analyst estimates.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $254.95; institutional investors own approximately 90.64% of the stock.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction on Monday, October 12th. The stock was sold at an average price of $195.00, for a total value of $198,315.00. Following the completion of the sale, the chief financial officer directly owned 217,911 shares of the company's stock, valued at approximately $42,492,645. The trade was a 0.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ravi Inukonda also recently made the following trade(s):

• On Tuesday, September 1st, Ravi Inukonda sold 16,044 shares of DoorDash stock. The shares were sold at an average price of $228.55, for a total value of $3,666,856.20.
• On Thursday, August 20th, Ravi Inukonda sold 19,505 shares of DoorDash stock. The shares were sold at an average price of $220.62, for a total value of $4,303,193.10.

DoorDash Stock Performance

Shares of DASH traded down $9.08 during mid-day trading on Wednesday, hitting $184.01. 3,921,847 shares of the company traded hands, compared to its average volume of 4,613,459. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The stock has a 50-day moving average price of $206.24 and a two-hundred day moving average price of $183.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $79.73 billion, a price-to-earnings ratio of 96.34 and a beta of 1.90.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.01). DoorDash had a net margin of 5.29% and a return on equity of 8.48%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The company's revenue was up 35.6% compared to the same quarter last year. Equities analysts anticipate that DoorDash, Inc. will post 2.51 earnings per share for the current year.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: Investors purchased 35,208 DASH call options, 256% above typical volume. The activity may reflect increased bullish interest, though options positioning is speculative and does not guarantee future gains.
• Positive Sentiment: DoorDash expanded its Australian retail footprint through a partnership with Big W, giving shoppers access to another major discount retailer and supporting growth in fast-delivery demand. Big W joins DoorDash in major shake-up to Australia’s discount retail delivery
• Positive Sentiment: The company is expanding into Geraldton, Kalgoorlie and Horsham, extending its regional Australian presence and potentially increasing order density and merchant reach. DoorDash Moves To Geraldton, Kalgoorlie & Horsham Amid Regional Push
• Positive Sentiment: A new SKIMS x DoorDash campaign, including Kim Kardashian promotion and on-demand apparel delivery, could improve brand awareness and demonstrate DoorDash’s expansion beyond restaurant delivery. Kim Kardashian Endorses On-Demand Apparel Delivery With New Skims x DoorDash Partnership and Ad Spot
• Neutral Sentiment: DoorDash highlighted its top U.S. pizzerias, providing merchant visibility but little direct financial information for investors. DoorDash names its top pizzerias in US
• Negative Sentiment: A report about a DoorDash worker involved in a road-rage attack could create isolated safety or reputational concerns, but there is no indication of a material financial impact. DoorDash worker speaks out after road rage attack

Institutional Trading of DoorDash

Hedge funds have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. bought a new position in shares of DoorDash in the 3rd quarter worth $5,925,000. Krilogy Financial LLC grew its stake in DoorDash by 407.0% in the third quarter. Krilogy Financial LLC now owns 7,945 shares of the company's stock valued at $1,458,000 after purchasing an additional 6,378 shares during the last quarter. NorthCrest Asset Manangement LLC bought a new position in DoorDash in the third quarter worth about $1,354,000. Eastern Bank purchased a new stake in shares of DoorDash during the third quarter valued at about $69,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of DoorDash by 191.2% in the 2nd quarter. QRG Capital Management Inc. now owns 251,374 shares of the company's stock valued at $46,386,000 after buying an additional 165,039 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. KeyCorp dropped their target price on DoorDash from $280.00 to $275.00 and set an "overweight" rating for the company in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft boosted their target price on DoorDash from $255.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Raymond James Financial restated a "buy" rating on shares of DoorDash in a report on Thursday, September 3rd. Wells Fargo & Company raised their price target on DoorDash from $225.00 to $230.00 and gave the stock a "cautious" rating in a research report on Monday, October 5th. Finally, Bank of America reaffirmed a "buy" rating on shares of DoorDash in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $254.95.

About DoorDash

DoorDash, Inc is a technology company that operates a local commerce platform connecting consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its DoorDash app and website, customers can discover businesses, place orders for delivery or pickup, and access related services. The company also provides merchants with tools for online ordering, logistics, customer engagement, advertising and business analytics.

DoorDash generates additional activity through subscription programs such as DashPass, which provides participating customers with delivery-related benefits, and through its logistics and commerce solutions for merchants.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.