DoorDash, Inc. (NASDAQ:DASH) CFO Sells $2,416,945.62 in Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 14,219 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $2,416,945.62. Following the completion of the transaction, the chief financial officer now directly owns 380,993 shares in the company, valued at $64,761,190.14. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ravi Inukonda also recently made the following trade(s):

• On Friday, August 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00.

DoorDash Stock Performance

DoorDash stock opened at $177.24 on Monday. The firm has a market capitalization of $73.62 billion, a P/E ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67. The company has a 50-day simple moving average of $153.61 and a 200-day simple moving average of $129.08. DoorDash, Inc. has a one year low of $92.56 and a one year high of $178.16.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its holdings in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the period. Headlands Technologies LLC bought a new stake in shares of DoorDash during the 2nd quarter worth about $32,000. Meeder Asset Management Inc. lifted its stake in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the period. Versant Capital Management Inc boosted its holdings in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on DASH. Piper Sandler raised their price objective on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Loop Capital raised their price target on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price objective on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised their target price on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

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.