Prabir Adarkar Sells 8,000 Shares of DoorDash, Inc. (NYSE:DASH) Stock

DoorDash, Inc. (NYSE:DASH) COO Prabir Adarkar sold 8,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $75.42, for a total value of $603,360.00. Following the sale, the chief operating officer now directly owns 962,676 shares in the company, valued at $72,605,023.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 2nd, Prabir Adarkar sold 8,000 shares of DoorDash stock. The stock was sold at an average price of $78.97, for a total value of $631,760.00.
• On Friday, September 8th, Prabir Adarkar sold 8,000 shares of DoorDash stock. The stock was sold at an average price of $81.81, for a total value of $654,480.00.
• On Monday, August 21st, Prabir Adarkar sold 19,432 shares of DoorDash stock. The stock was sold at an average price of $76.02, for a total value of $1,477,220.64.

DoorDash Price Performance

NYSE:DASH opened at $92.49 on Friday. DoorDash, Inc. has a 1 year low of $45.93 and a 1 year high of $93.19. The stock’s 50 day simple moving average is $78.68 and its two-hundred day simple moving average is $75.43. The company has a market cap of $36.38 billion, a price-to-earnings ratio of -34.38 and a beta of 1.61.

DoorDash (NYSE:DASH) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.26. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.09 billion. DoorDash had a negative return on equity of 9.88% and a negative net margin of 12.81%. The company’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.77) EPS. As a group, analysts anticipate that DoorDash, Inc. will post -1.73 EPS for the current year.

Hedge Funds Weigh In On DoorDash

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in DoorDash by 1.1% during the 1st quarter. Nordea Investment Management AB now owns 16,494 shares of the company’s stock valued at $1,032,000 after acquiring an additional 177 shares during the period. State of Alaska Department of Revenue boosted its holdings in DoorDash by 61.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 42,465 shares of the company’s stock valued at $3,245,000 after acquiring an additional 16,140 shares during the period. Citigroup Inc. boosted its holdings in DoorDash by 2.4% during the 1st quarter. Citigroup Inc. now owns 134,314 shares of the company’s stock valued at $8,537,000 after acquiring an additional 3,091 shares during the period. AJ Wealth Strategies LLC boosted its holdings in DoorDash by 165.4% during the 2nd quarter. AJ Wealth Strategies LLC now owns 14,485 shares of the company’s stock valued at $1,107,000 after acquiring an additional 9,027 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in DoorDash by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 113,443 shares of the company’s stock valued at $7,210,000 after acquiring an additional 720 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company raised their target price on DoorDash from $70.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Moffett Nathanson cut DoorDash from an “outperform” rating to a “market perform” rating in a research report on Friday, September 15th. Wedbush lifted their price objective on DoorDash from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on DoorDash from $95.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Barclays lifted their price objective on DoorDash from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Hold” and an average price target of $92.71.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.