Stock Traders Buy Large Volume of DoorDash Call Options (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 68,987 call options on the stock. This represents an increase of 306% compared to the average volume of 16,992 call options.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at $50,651,994.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DoorDash

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after acquiring an additional 82 shares in the last quarter. Everhart Financial Group Inc. grew its holdings in shares of DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after buying an additional 99 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after buying an additional 111 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after buying an additional 117 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of DoorDash by 39.0% during the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after buying an additional 119 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Raymond James assumed coverage on shares of DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research report on Wednesday, September 25th. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, September 19th. Wolfe Research assumed coverage on shares of DoorDash in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, JMP Securities increased their price objective on shares of DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Stock Performance

Shares of DASH traded up $0.63 during trading hours on Thursday, reaching $170.27. The company had a trading volume of 979,736 shares, compared to its average volume of 3,831,140. The firm has a 50 day simple moving average of $142.44 and a 200-day simple moving average of $124.83. DoorDash has a 12-month low of $83.58 and a 12-month high of $170.77.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm posted ($0.19) EPS. The business’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts predict that DoorDash will post 0.23 earnings per share for the current fiscal year.

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.