DoorDash, Inc. (NYSE:DASH - Get Rating) saw unusually large options trading on Friday. Stock investors acquired 66,572 put options on the company. This is an increase of 126% compared to the average volume of 29,475 put options.
Insider Transactions at DoorDash
In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the company's stock in a transaction on Friday, January 6th. The stock was sold at an average price of $47.32, for a total value of $59,150.00. Following the completion of the transaction, the director now owns 82,278 shares in the company, valued at approximately $3,893,394.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company's stock in a transaction on Monday, March 13th. The stock was sold at an average price of $53.07, for a total value of $7,021,161.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shona L. Brown sold 1,250 shares of the company's stock in a transaction on Friday, January 6th. The shares were sold at an average price of $47.32, for a total value of $59,150.00. Following the completion of the transaction, the director now owns 82,278 shares of the company's stock, valued at approximately $3,893,394.96. The disclosure for this sale can be found here. Insiders have sold 308,424 shares of company stock valued at $16,529,181 over the last ninety days. 15.54% of the stock is owned by company insiders.
Institutional Investors Weigh In On DoorDash
Institutional investors have recently bought and sold shares of the company. Raymond James & Associates lifted its stake in DoorDash by 123.4% in the 1st quarter. Raymond James & Associates now owns 6,286 shares of the company's stock worth $737,000 after purchasing an additional 3,472 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in DoorDash by 43.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,825 shares of the company's stock worth $448,000 after purchasing an additional 1,153 shares in the last quarter. American Century Companies Inc. raised its position in shares of DoorDash by 18.3% during the 1st quarter. American Century Companies Inc. now owns 4,444 shares of the company's stock valued at $521,000 after buying an additional 689 shares during the period. US Bancorp DE raised its position in shares of DoorDash by 204.6% during the 1st quarter. US Bancorp DE now owns 926 shares of the company's stock valued at $109,000 after buying an additional 622 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of DoorDash by 305.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,553 shares of the company's stock valued at $415,000 after buying an additional 2,677 shares during the period. 72.65% of the stock is currently owned by institutional investors and hedge funds.
DoorDash Stock Down 1.9 %
NYSE:DASH traded down $1.13 during midday trading on Friday, hitting $59.60. The stock had a trading volume of 2,616,479 shares, compared to its average volume of 5,245,182. DoorDash has a one year low of $41.37 and a one year high of $130.20. The stock has a 50-day moving average of $57.23 and a 200 day moving average of $54.73.
DoorDash (NYSE:DASH - Get Rating) last announced its earnings results on Thursday, February 16th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.07. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.77 billion. DoorDash had a negative return on equity of 15.12% and a negative net margin of 20.74%. Sell-side analysts predict that DoorDash will post -2.14 EPS for the current year.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Bank of America lowered their price target on DoorDash from $80.00 to $72.00 and set a "buy" rating on the stock in a report on Tuesday, February 14th. Piper Sandler cut DoorDash from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $227.00 to $40.00 in a report on Monday, January 9th. Royal Bank of Canada cut DoorDash from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $70.00 to $60.00 in a report on Friday, December 2nd. Moffett Nathanson started coverage on DoorDash in a report on Monday, January 30th. They issued an "outperform" rating and a $79.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on DoorDash from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, January 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $80.95.
About DoorDash
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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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