Stanley Tang Sells 45,410 Shares of DoorDash, Inc. (NASDAQ:DASH) Stock

DoorDash, Inc. (NASDAQ:DASH) Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares in the company, valued at $3,313,424.85. This represents a 71.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DoorDash Trading Down 6.2 %

NASDAQ DASH opened at $163.16 on Friday. The firm has a market cap of $68.54 billion, a PE ratio of 604.30 and a beta of 1.69. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25. The stock has a 50-day moving average of $191.90 and a 200-day moving average of $173.46.

Institutional Trading of DoorDash

Several hedge funds and other institutional investors have recently bought and sold shares of DASH. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash in the fourth quarter worth $29,000. Denver PWM LLC purchased a new position in shares of DoorDash in the fourth quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new stake in shares of DoorDash during the fourth quarter worth about $34,000. ORG Wealth Partners LLC bought a new stake in shares of DoorDash in the fourth quarter worth about $36,000. Finally, IFP Advisors Inc grew its stake in shares of DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company’s stock worth $37,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DASH shares. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of DoorDash in a report on Thursday, February 6th. Cantor Fitzgerald raised their price objective on shares of DoorDash from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Benchmark increased their target price on DoorDash from $180.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Roth Mkm lifted their price target on DoorDash from $165.00 to $193.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company currently has an average 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.