Insider Selling: DoorDash, Inc. (NASDAQ:DASH) CFO Sells 14,715 Shares of Stock

DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold 14,715 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $196.52, for a total value of $2,891,791.80. Following the transaction, the chief financial officer now directly owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 20th, Ravi Inukonda sold 15,198 shares of DoorDash stock. The shares were sold at an average price of $204.11, for a total transaction of $3,102,063.78.
• On Friday, January 24th, Ravi Inukonda sold 1,425 shares of DoorDash stock. The shares were sold at an average price of $183.20, for a total value of $261,060.00.
• On Monday, December 30th, Ravi Inukonda sold 7,000 shares of DoorDash stock. The stock was sold at an average price of $169.32, for a total value of $1,185,240.00.

DoorDash Price Performance

Shares of DASH traded down $6.85 during midday trading on Wednesday, hitting $192.87. 3,848,253 shares of the company traded hands, compared to its average volume of 4,002,851. The stock has a 50-day moving average of $190.94 and a 200-day moving average of $171.06. DoorDash, Inc. has a one year low of $99.32 and a one year high of $215.25. The firm has a market cap of $81.02 billion, a P/E ratio of 714.33 and a beta of 1.70.

Institutional Trading of DoorDash

A number of hedge funds and other institutional investors have recently bought and sold shares of DASH. Norges Bank purchased a new position in DoorDash during the fourth quarter worth about $597,443,000. Capital World Investors raised its position in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after buying an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after acquiring an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. grew its position in DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in DoorDash in the fourth quarter valued at $146,094,000. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on DASH. Wells Fargo & Company increased their price target on DoorDash from $166.00 to $198.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on DoorDash from $192.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. UBS Group boosted their price objective on DoorDash from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of DoorDash in a report on Thursday, February 6th. Finally, Piper Sandler restated a “neutral” rating and set a $210.00 price target (up previously from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus target price of $206.52.

DoorDash Company Profile

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.