DoorDash (NYSE:DASH) Shares Down 3.1%

DoorDash, Inc. (NYSE:DASH)’s share price was down 3.1% during trading on Tuesday . The stock traded as low as $78.20 and last traded at $78.45. Approximately 480,810 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 3,857,030 shares. The stock had previously closed at $80.92.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research analyst reports. Roth Mkm boosted their price objective on shares of DoorDash from $73.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. The Goldman Sachs Group upped their price target on shares of DoorDash from $73.00 to $98.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Morgan Stanley increased their price objective on shares of DoorDash from $72.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Oppenheimer increased their price objective on shares of DoorDash from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, Jefferies Financial Group upgraded DoorDash from an “underperform” rating to a “hold” rating and lifted their target price for the company from $70.00 to $90.00 in a research report on Monday, September 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.77.

DoorDash Stock Performance

The company’s 50 day simple moving average is $82.55 and its two-hundred day simple moving average is $71.43.

DoorDash (NYSE:DASH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). DoorDash had a negative return on equity of 13.14% and a negative net margin of 16.47%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the business earned ($0.72) earnings per share. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash, Inc. will post -1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 3,500 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $76.74, for a total transaction of $268,590.00. Following the sale, the insider now directly owns 237,405 shares of the company’s stock, valued at approximately $18,218,459.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Keith Yandell sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $76.74, for a total transaction of $268,590.00. Following the completion of the transaction, the insider now directly owns 237,405 shares in the company, valued at $18,218,459.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gordon S. Lee sold 1,000 shares of DoorDash stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $81.41, for a total value of $81,410.00. Following the completion of the sale, the chief accounting officer now owns 105,321 shares of the company’s stock, valued at $8,574,182.61. The disclosure for this sale can be found here. Insiders have sold 1,064,997 shares of company stock worth $85,730,296 in the last 90 days. Company insiders own 9.59% of the company’s stock.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Newlands Management Operations LLC increased its stake in DoorDash by 94.8% in the 2nd quarter. Newlands Management Operations LLC now owns 7,050,680 shares of the company’s stock worth $538,813,000 after acquiring an additional 3,430,729 shares during the last quarter. Norges Bank purchased a new position in DoorDash in the 4th quarter worth approximately $132,721,000. Baillie Gifford & Co. grew its position in shares of DoorDash by 26.0% in the 2nd quarter. Baillie Gifford & Co. now owns 12,254,555 shares of the company’s stock worth $936,493,000 after buying an additional 2,527,951 shares during the last quarter. Vanguard Group Inc. grew its position in shares of DoorDash by 18.8% in the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock worth $1,507,402,000 after buying an additional 2,032,637 shares during the last quarter. Finally, Capital World Investors grew its position in shares of DoorDash by 29.6% in the 2nd quarter. Capital World Investors now owns 7,994,552 shares of the company’s stock worth $610,944,000 after buying an additional 1,827,676 shares during the last quarter. 75.84% of the stock is currently owned by institutional investors.

DoorDash Company Profile

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.