DoorDash (NASDAQ:DASH) CEO Sells $13,235,825.00 in Stock

Key Points

• CEO Tony Xu sold 51,250 shares of DoorDash stock at an average price of $258.26, amounting to over $13 million, significantly reducing his ownership to just 1,500 shares.
• Following a recent earnings report, DoorDash posted a 24.9% year-over-year revenue increase with earnings surpassing analyst expectations.
• Several hedge funds have increased their stakes in DoorDash, with institutional investors owning 90.64% of the company's stock, indicating strong interest from large investors.

DoorDash, Inc. (NASDAQ:DASH - Get Free Report) CEO Tony Xu sold 51,250 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $258.26, for a total transaction of $13,235,825.00. Following the completion of the transaction, the chief executive officer owned 1,500 shares in the company, valued at $387,390. The trade was a 97.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Tony Xu also recently made the following trade(s):

• On Wednesday, September 3rd, Tony Xu sold 17,083 shares of DoorDash stock. The stock was sold at an average price of $250.50, for a total transaction of $4,279,291.50.
• On Tuesday, September 2nd, Tony Xu sold 34,167 shares of DoorDash stock. The shares were sold at an average price of $243.32, for a total transaction of $8,313,514.44.
• On Wednesday, August 20th, Tony Xu sold 291,403 shares of DoorDash stock. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57.
• On Friday, August 15th, Tony Xu sold 34,167 shares of DoorDash stock. The shares were sold at an average price of $247.78, for a total value of $8,465,899.26.
• On Monday, August 11th, Tony Xu sold 51,250 shares of DoorDash stock. The stock was sold at an average price of $255.89, for a total value of $13,114,362.50.
• On Friday, July 25th, Tony Xu sold 30,124 shares of DoorDash stock. The shares were sold at an average price of $250.02, for a total value of $7,531,602.48.
• On Monday, July 28th, Tony Xu sold 4,042 shares of DoorDash stock. The shares were sold at an average price of $250.28, for a total value of $1,011,631.76.
• On Tuesday, July 15th, Tony Xu sold 34,167 shares of DoorDash stock. The stock was sold at an average price of $236.80, for a total value of $8,090,745.60.
• On Tuesday, July 1st, Tony Xu sold 34,167 shares of DoorDash stock. The shares were sold at an average price of $240.66, for a total transaction of $8,222,630.22.

DoorDash Stock Down 1.0%

Shares of NASDAQ DASH traded down $2.78 during trading on Friday, reaching $265.29. 10,684,224 shares of the stock were exchanged, compared to its average volume of 3,044,862. The company has a market capitalization of $113.33 billion, a price-to-earnings ratio of 147.38 and a beta of 1.70. The business's 50-day moving average price is $250.23 and its 200 day moving average price is $218.64. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a twelve month low of $136.53 and a twelve month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm posted ($0.38) EPS. The firm's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On DoorDash

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Norges Bank acquired a new position in shares of DoorDash in the second quarter worth about $1,185,576,000. AQR Capital Management LLC increased its position in shares of DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock worth $321,799,000 after acquiring an additional 1,497,636 shares in the last quarter. Invesco Ltd. raised its holdings in shares of DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of DoorDash in the first quarter worth $211,415,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent analyst reports. KeyCorp reiterated an "overweight" rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. BTIG Research increased their target price on DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. BMO Capital Markets raised their price target on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. JMP Securities upped their price target on shares of DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Finally, Morgan Stanley raised their price objective on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $268.76.

About DoorDash

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.