Insider Selling: DoorDash (NASDAQ:DASH) COO Sells $3,374,979.75 in Stock

DoorDash, Inc. (NASDAQ:DASH) COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Prabir Adarkar also recently made the following trade(s):

• On Monday, April 20th, Prabir Adarkar sold 10,000 shares of DoorDash stock. The stock was sold at an average price of $188.34, for a total transaction of $1,883,400.00.
• On Monday, March 23rd, Prabir Adarkar sold 10,000 shares of DoorDash stock. The shares were sold at an average price of $158.97, for a total transaction of $1,589,700.00.

DoorDash Stock Up 1.7%

DASH opened at $159.29 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a market cap of $69.41 billion, a price-to-earnings ratio of 75.85 and a beta of 1.87. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company’s 50-day moving average price is $162.21 and its two-hundred day moving average price is $187.31.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, equities analysts expect that DoorDash, Inc. will post 2.45 earnings per share for the current year.

Key Stories Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash announced a partnership with Dollar Tree that will bring on-demand delivery to Dollar Tree’s full U.S. store footprint, opening access to more than 9,000 stores and over 10,000 products. Investors may view this as a meaningful expansion beyond restaurant delivery and a potential driver of order growth. DoorDash and Dollar Tree Partner to Bring Greater Value and Thrill of the Hunt Discovery On-Demand
• Positive Sentiment: Jim Cramer said he thinks DoorDash “is a buy,” adding another bullish media mention that can help sentiment around the stock. Jim Cramer Says He Thinks “DoorDash Is a Buy”
• Neutral Sentiment: Commentary about the food-delivery industry said the competitive battle is entering a more aggressive phase. That could support DoorDash’s scale advantages, but it also suggests continued pressure to defend market share and margins. The Food Delivery War Just Entered Its Final Phase
• Negative Sentiment: Several insider sales were disclosed, including trades by COO Prabir Adarkar, General Counsel Tia Sherringham, and insider Keith Yandell. The sales were made under pre-arranged 10b5-1 plans, but insider selling can still make some investors cautious. Prabir Adarkar insider trade

Analyst Ratings Changes

A number of research analysts have weighed in on DASH shares. Citigroup dropped their target price on shares of DoorDash from $280.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Mizuho dropped their target price on shares of DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Stifel Nicolaus dropped their target price on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. Roth Mkm reiterated a “neutral” rating and issued a $200.00 target price on shares of DoorDash in a research note on Thursday, February 19th. Finally, Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.58.

Institutional Trading of DoorDash

A number of institutional investors have recently modified their holdings of DASH. Norges Bank purchased a new stake in shares of DoorDash during the 4th quarter valued at approximately $1,093,650,000. Wellington Management Group LLP lifted its stake in shares of DoorDash by 593.1% during the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock valued at $1,241,494,000 after buying an additional 4,690,744 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after acquiring an additional 3,447,754 shares during the period. Janus Henderson Group PLC increased its holdings in DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock worth $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Finally, Coatue Management LLC increased its holdings in DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after acquiring an additional 1,910,488 shares during the period. 90.64% of the stock is currently owned by hedge funds and other 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.