Investors Buy Large Volume of DoorDash Call Options (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) was the recipient of unusually large options trading on Friday. Investors bought 77,551 call options on the company. This represents an increase of 278% compared to the typical volume of 20,525 call options.

DoorDash Price Performance

NASDAQ DASH traded down $0.12 on Friday, reaching $220.46. The stock had a trading volume of 6,878,903 shares, compared to its average volume of 4,221,786. The firm has a fifty day moving average of $200.53 and a two-hundred day moving average of $189.34. DoorDash has a 1-year low of $99.32 and a 1-year high of $223.81. The company has a market cap of $93.42 billion, a P/E ratio of 286.32 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Research analysts predict that DoorDash will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Benchmark lifted their price objective on DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Oppenheimer reiterated a "hold" rating on shares of DoorDash in a report on Monday, March 10th. JMP Securities boosted their target price on DoorDash from $225.00 to $235.00 and gave the company a "market outperform" rating in a research note on Thursday, June 12th. Finally, UBS Group cut their target price on DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $210.21.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $187.22, for a total transaction of $266,788.50. Following the completion of the transaction, the chief financial officer now directly owns 337,430 shares in the company, valued at approximately $63,173,644.60. The trade was a 0.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the transaction, the chief executive officer now owns 520,450 shares of the company's stock, valued at $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,274 shares of company stock worth $69,198,499 over the last three months. 5.83% of the stock is currently owned by company insiders.

Institutional Trading of DoorDash

Several large investors have recently modified their holdings of the stock. GeoWealth Management LLC grew its holdings in shares of DoorDash by 3.7% during the 4th quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after purchasing an additional 51 shares in the last quarter. IFP Advisors Inc lifted its position in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after buying an additional 54 shares during the last quarter. Palo Alto Wealth Advisors LLC lifted its position in shares of DoorDash by 0.4% during the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock worth $2,385,000 after buying an additional 54 shares during the last quarter. SageView Advisory Group LLC lifted its position in shares of DoorDash by 5.1% during the 1st quarter. SageView Advisory Group LLC now owns 1,435 shares of the company's stock worth $262,000 after buying an additional 69 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after buying an additional 70 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

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.