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

Key Points

• DoorDash COO Prabir Adarkar sold 30,000 shares of the company's stock for a total of $7.29 million on July 24th, reducing his ownership by 3.08% to approximately $229 million.
• The company's stock has a market capitalization of $104.43 billion and has experienced a price range between $104.62 and $250.71 over the past year.
• Analysts are generally optimistic about DoorDash, with many raising their price targets; the current consensus rating is "Moderate Buy" with a price target of $232.12.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) COO Prabir Adarkar sold 30,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $243.02, for a total transaction of $7,290,600.00. Following the completion of the sale, the chief operating officer owned 942,554 shares of the company's stock, valued at $229,059,473.08. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, June 27th, Prabir Adarkar sold 30,000 shares of DoorDash stock. The stock was sold at an average price of $240.47, for a total transaction of $7,214,100.00.
• On Tuesday, May 20th, Prabir Adarkar sold 15,660 shares of DoorDash stock. The stock was sold at an average price of $199.90, for a total transaction of $3,130,434.00.
• On Friday, May 23rd, Prabir Adarkar sold 62,267 shares of DoorDash stock. The stock was sold at an average price of $202.67, for a total transaction of $12,619,652.89.

DoorDash Stock Performance

DASH traded down $2.65 during trading hours on Friday, reaching $247.61. The company's stock had a trading volume of 874,653 shares, compared to its average volume of 4,747,695. DoorDash, Inc. has a 52 week low of $106.21 and a 52 week high of $252.87. The firm has a market cap of $104.92 billion, a PE ratio of 321.57 and a beta of 1.70. The company's 50-day moving average is $229.80 and its 200-day moving average is $202.92.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. DoorDash's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DASH. Needham & Company LLC upped their price target on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. JMP Securities upped their price target on shares of DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $250.00 price target (up from $235.00) on shares of DoorDash in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Oppenheimer boosted their target price on shares of DoorDash from $220.00 to $280.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in DoorDash by 69.9% in the second quarter. Envestnet Asset Management Inc. now owns 178,812 shares of the company's stock valued at $44,079,000 after acquiring an additional 73,540 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of DoorDash by 25.6% during the second quarter. Nisa Investment Advisors LLC now owns 58,959 shares of the company's stock worth $14,534,000 after purchasing an additional 12,002 shares during the last quarter. Resonant Capital Advisors LLC bought a new stake in shares of DoorDash during the second quarter worth about $293,000. Wealthfront Advisers LLC grew its holdings in shares of DoorDash by 4.4% during the second quarter. Wealthfront Advisers LLC now owns 73,069 shares of the company's stock worth $18,012,000 after purchasing an additional 3,078 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of DoorDash by 84.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,446 shares of the company's stock worth $1,342,000 after purchasing an additional 2,499 shares during the last quarter. 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.