DoorDash (NASDAQ:DASH) CFO Ravi Inukonda Sells 19,095 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 19,095 shares of DoorDash stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the sale, the chief financial officer directly owned 252,443 shares in the company, valued at $47,469,381.72. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DoorDash Price Performance

NASDAQ:DASH traded down $0.53 on Friday, hitting $191.82. The company had a trading volume of 2,652,427 shares, compared to its average volume of 4,849,820. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $83.58 billion, a price-to-earnings ratio of 91.34 and a beta of 1.78. The firm has a 50 day moving average of $167.76 and a two-hundred day moving average of $179.27.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, research analysts anticipate that DoorDash, Inc. will post 2.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DASH shares. TD Cowen started coverage on DoorDash in a research report on Monday, April 27th. They set a “buy” rating and a $225.00 target price for the company. Truist Financial dropped their price target on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Moffett Nathanson set a $276.00 target price on shares of DoorDash in a research note on Wednesday, April 15th. Argus set a $190.00 target price on shares of DoorDash in a report on Thursday, June 11th. Finally, The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank raised its holdings in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. MV Capital Management Inc. acquired a new stake in DoorDash in the 4th quarter valued at $26,000. Swiss RE Ltd. bought a new position in shares of DoorDash in the fourth quarter valued at $28,000. ST Germain D J Co. Inc. bought a new position in DoorDash in the 4th quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $32,000. 90.64% of the stock is owned by institutional investors.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.