Ravi Inukonda Sells 7,000 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $169.32, for a total value of $1,185,240.00. Following the transaction, the chief financial officer now directly owns 366,993 shares in the company, valued at approximately $62,139,254.76. This represents a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 29th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $179.76, for a total value of $1,258,320.00.
• On Wednesday, November 20th, Ravi Inukonda sold 14,219 shares of DoorDash stock. The shares were sold at an average price of $169.98, for a total value of $2,416,945.62.

DoorDash Trading Up 1.7 %

Shares of NASDAQ DASH traded up $2.90 during midday trading on Thursday, reaching $170.65. 2,291,789 shares of the stock were exchanged, compared to its average volume of 3,674,925. The company has a market capitalization of $70.89 billion, a P/E ratio of -379.22, a P/E/G ratio of 13.56 and a beta of 1.70. The stock has a 50 day moving average price of $170.59 and a 200-day moving average price of $140.88. DoorDash, Inc. has a 52-week low of $93.33 and a 52-week high of $181.78.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company earned ($0.19) EPS. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after buying an additional 82 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after acquiring an additional 111 shares during the last quarter. Venturi Wealth Management LLC increased its stake in DoorDash by 39.0% during the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after acquiring an additional 119 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Finally, 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 valued at $32,000 after purchasing an additional 132 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research report on Monday, October 7th. Citigroup lifted their price objective on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Needham & Company LLC increased their target price on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark lifted their price target on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets increased their price objective on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.70.

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.