DoorDash, Inc. (NASDAQ:DASH) Director Sells $11,221,265.10 in Stock

Key Points

• Stanley Tang, a director at DoorDash, sold 45,410 shares of the company's stock on August 1st, resulting in a total sale value of approximately $11.22 million.
• The sale represented a 63.53% decrease in Tang's ownership of DoorDash, leaving him with 26,070 shares valued at around $6.44 million.
• DoorDash's stock was trading at $255.38, with a market capitalization of $108.22 billion and a price-to-earnings ratio of 331.67.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the sale, the director owned 26,070 shares of the company's stock, valued at approximately $6,442,157.70. This trade represents a 63.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Stanley Tang also recently made the following trade(s):

• On Tuesday, July 1st, Stanley Tang sold 45,410 shares of DoorDash stock. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90.
• On Monday, June 2nd, Stanley Tang sold 45,231 shares of DoorDash stock. The stock was sold at an average price of $211.36, for a total value of $9,560,024.16.

DoorDash Stock Performance

DASH stock traded up $10.76 on Thursday, hitting $268.84. 6,159,869 shares of the company's stock were exchanged, compared to its average volume of 4,757,116. The firm has a 50 day moving average price of $233.72 and a two-hundred day moving average price of $205.22. The stock has a market cap of $113.92 billion, a P/E ratio of 349.41 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $121.18 and a 12-month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm posted ($0.38) EPS. The business's revenue was up 24.9% on a year-over-year basis. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of DoorDash

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. Capital World Investors increased its holdings in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. AQR Capital Management LLC lifted its stake in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. grew its position in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of DoorDash in the 1st quarter valued at about $211,415,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the subject of a number of research reports. Sanford C. Bernstein increased their target price on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Raymond James Financial reaffirmed 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $260.00 price objective (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Wedbush restated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Oppenheimer upped their price objective on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $255.65.

DoorDash Company Profile

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.