Insider Selling: DoorDash, Inc. (NASDAQ:DASH) Director Sells $8,228,746.10 in Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. The trade was a 71.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

DoorDash Stock Down 6.2 %

Shares of DASH stock opened at $163.16 on Friday. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25. The company’s fifty day simple moving average is $191.90 and its two-hundred day simple moving average is $173.77. The stock has a market cap of $68.54 billion, a P/E ratio of 604.30 and a beta of 1.69.

Hedge Funds Weigh In On DoorDash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DASH. Captrust Financial Advisors boosted its position in shares of DoorDash by 9.6% during the 3rd quarter. Captrust Financial Advisors now owns 8,162 shares of the company’s stock valued at $1,165,000 after acquiring an additional 718 shares during the last quarter. Cinctive Capital Management LP bought a new position in DoorDash during the third quarter valued at $873,000. HighTower Advisors LLC grew its stake in shares of DoorDash by 4.6% in the 3rd quarter. HighTower Advisors LLC now owns 21,538 shares of the company’s stock worth $3,054,000 after buying an additional 944 shares in the last quarter. Investment Management Corp of Ontario raised its position in shares of DoorDash by 108.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 13,253 shares of the company’s stock valued at $1,892,000 after buying an additional 6,896 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of DoorDash by 4.2% during the 3rd quarter. Motley Fool Asset Management LLC now owns 16,562 shares of the company’s stock valued at $2,351,000 after buying an additional 674 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Mizuho lifted their price objective on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Susquehanna boosted their price objective on shares of DoorDash from $180.00 to $235.00 and gave the company a “positive” rating in a report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and issued a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Wedbush boosted their target price on shares of DoorDash from $160.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Citigroup restated a “buy” rating on shares of DoorDash in a research note on Saturday, March 8th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $207.29.

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.