DoorDash Sees Unusually High Options Volume (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) was the target of unusually large options trading activity on Thursday. Investors bought 68,987 call options on the stock. This represents an increase of approximately 306% compared to the typical daily volume of 16,992 call options.

Analyst Ratings Changes

DASH has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Susquehanna raised their price target on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Redburn Atlantic started coverage on shares of DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 target price on the stock. Oppenheimer boosted their price objective on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group increased their target price on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.12.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock worth $46,439,330 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

Institutional Trading of DoorDash

Several hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Meeder Asset Management Inc. lifted its position in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the second quarter worth about $32,000. Versant Capital Management Inc lifted its stake in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the period. Finally, ORG Partners LLC boosted its position in DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Up 0.6 %

DoorDash stock opened at $170.59 on Friday. The business’s 50-day moving average price is $142.44 and its two-hundred day moving average price is $124.83. DoorDash has a 12-month low of $83.58 and a 12-month high of $171.20.

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