Insider Selling: DoorDash (NASDAQ:DASH) COO Sells $3,778,338.12 in Stock

Key Points

• DoorDash COO Prabir Adarkar sold 17,126 shares for approximately $3.78 million at an average price of $220.62. The sale was made to cover tax withholding tied to vested equity awards, leaving him with 941,950 shares.
• DoorDash reported quarterly revenue of $4.45 billion, up 35.6% year over year, but earnings per share of $0.46 narrowly missed the $0.47 consensus estimate. The stock recently traded at $229.06, with a market capitalization of about $99.25 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $254.53, while institutional investors own 90.64% of the company’s shares.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) COO Prabir Adarkar sold 17,126 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total transaction of $3,778,338.12. Following the completion of the transaction, the chief operating officer owned 941,950 shares of the company's stock, valued at $207,813,009. This represents a 1.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, May 26th, Prabir Adarkar sold 21,739 shares of DoorDash stock. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75.

DoorDash Stock Performance

DASH traded up $5.57 during trading on Monday, hitting $229.06. 3,659,668 shares of the stock were exchanged, compared to its average volume of 4,788,734. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The stock has a fifty day moving average price of $192.75 and a two-hundred day moving average price of $175.21. The firm has a market capitalization of $99.25 billion, a P/E ratio of 119.93 and a beta of 1.78.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. DoorDash's revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.46 earnings per share for the current year.

Institutional Trading of DoorDash

A number of institutional investors have recently modified their holdings of DASH. Intech Investment Management LLC lifted its stake in shares of DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company's stock valued at $57,378,000 after purchasing an additional 221,985 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in DoorDash by 9.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 156,960 shares of the company's stock valued at $35,548,000 after buying an additional 13,121 shares in the last quarter. Allstate Corp lifted its position in DoorDash by 116.7% during the fourth quarter. Allstate Corp now owns 29,227 shares of the company's stock valued at $6,619,000 after buying an additional 15,741 shares in the last quarter. Brighton Jones LLC grew its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares during the period. Finally, JCP Investment Management LLC purchased a new position in shares of DoorDash in the 1st quarter valued at $991,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DASH shares. Roth Capital lifted their price objective on shares of DoorDash from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Citigroup reissued a "market outperform" rating on shares of DoorDash in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of DoorDash in a research note on Friday, August 7th. Benchmark decreased their price target on DoorDash from $285.00 to $270.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Finally, DA Davidson dropped their price objective on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Twenty-three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.53.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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