Stanley Tang Sells 45,410 Shares of DoorDash (NASDAQ:DASH) Stock

Key Points

• Stanley Tang, a director at DoorDash, sold 45,410 shares of the company's stock at an average price of $268.23, totaling over $12 million.
• DoorDash's stock is currently trading at $271.22, up 0.4%, with a market capitalization of $115.87 billion.
• Analysts have rated DoorDash with a consensus price target of $275.27, with several institutions increasing their positions in the stock recently.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) Director Stanley Tang sold 45,410 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, September 2nd, Stanley Tang sold 45,410 shares of DoorDash stock. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10.
• On Friday, August 1st, Stanley Tang sold 45,410 shares of DoorDash stock. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10.

DoorDash Trading Up 0.4%

NASDAQ:DASH traded up $1.13 during trading hours on Friday, hitting $271.22. 2,417,180 shares of the company were exchanged, compared to its average volume of 4,454,777. The stock has a market capitalization of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a one year low of $141.26 and a one year high of $278.15. The company has a fifty day simple moving average of $255.09 and a 200 day simple moving average of $223.32.

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, topping the consensus estimate of $0.42 by $0.23. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the company earned ($0.38) EPS. Sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Institutional Trading of DoorDash

Several large investors have recently made changes to their positions in DASH. Night Squared LP acquired a new position in DoorDash during the 1st quarter valued at about $2,780,000. Mutual of America Capital Management LLC bought a new position in shares of DoorDash during the 1st quarter worth approximately $7,200,000. Public Investment Fund lifted its position in shares of DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock worth $150,125,000 after buying an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP lifted its position in shares of DoorDash by 6.7% during the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock worth $14,622,000 after buying an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in shares of DoorDash during the 1st quarter worth approximately $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on DASH. UBS Group raised their target price on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wells Fargo & Company lowered their price objective on DoorDash from $306.00 to $301.00 and set an "equal weight" rating for the company in a research report on Friday. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Oppenheimer lifted their price objective on DoorDash from $280.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein lifted their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $275.27.

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.

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