Stanley Tang Sells 2,160 Shares of DoorDash (NASDAQ:DASH) Stock

Key Points

• DoorDash director Stanley Tang sold 2,160 shares at an average price of $220.62, generating $476,539.20. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax obligations tied to vested equity awards, reducing his holdings by 5.37% to 38,058 shares.
• DoorDash shares rose 2.5% to $229.06, giving the company a market capitalization of approximately $99.25 billion. The stock trades at a high price-to-earnings ratio of 119.93 and remains below its 52-week high of $285.50.
• The company’s latest quarterly revenue reached $4.45 billion, up 35.6% year over year and above estimates, though adjusted EPS of $0.46 slightly missed expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $254.53.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Stanley Tang sold 2,160 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $220.62, for a total transaction of $476,539.20. Following the completion of the sale, the director owned 38,058 shares in the company, valued at $8,396,355.96. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, August 21st, Stanley Tang sold 72,367 shares of DoorDash stock. The shares were sold at an average price of $225.16, for a total value of $16,294,153.72.
• On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The shares were sold at an average price of $225.00, for a total transaction of $2,249,775.00.
• On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The stock was sold at an average price of $200.63, for a total value of $13,581,246.59.
• On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The stock was sold at an average price of $191.19, for a total value of $4,421,268.75.

DoorDash Trading Up 2.5%

NASDAQ:DASH traded up $5.57 during trading hours on Monday, reaching $229.06. 3,659,668 shares of the company were exchanged, compared to its average volume of 4,788,734. The firm has a market cap of $99.25 billion, a price-to-earnings ratio of 119.93 and a beta of 1.78. The stock has a 50 day simple moving average of $192.75 and a 200 day simple moving average of $175.21. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

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

Hedge Funds Weigh In On DoorDash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new position in DoorDash during the fourth quarter valued at approximately $26,000. Sunbelt Securities Inc. boosted its position in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock worth $33,000 after buying an additional 67 shares during the period. Swiss RE Ltd. acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $28,000. ST Germain D J Co. Inc. bought a new stake in DoorDash during the 4th quarter worth about $29,000. Finally, Morse Asset Management Inc acquired a new position in DoorDash during the third quarter valued at approximately $36,000. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. KeyCorp reduced their price target on shares of DoorDash from $280.00 to $275.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Wells Fargo & Company upped their price target on shares of DoorDash from $199.00 to $225.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. BTIG Research reissued a "buy" rating and issued a $225.00 price target on shares of DoorDash in a research report on Thursday, August 6th. Roth Capital boosted their price target on DoorDash from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, Guggenheim reaffirmed a "buy" rating and set a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. Twenty-three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source