DoorDash (NASDAQ:DASH) Reaches New 1-Year Low After Insider Selling

DoorDash, Inc. (NASDAQ:DASH)’s share price hit a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $183.76 and last traded at $192.89, with a volume of 3162935 shares traded. The stock had previously closed at $191.23.

Specifically, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $187.22, for a total value of $266,788.50. Following the sale, the chief financial officer now owns 337,430 shares in the company, valued at approximately $63,173,644.60. The trade was a 0.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $184.85, for a total transaction of $3,697,000.00. Following the sale, the chief operating officer now directly owns 887,348 shares in the company, valued at $164,026,277.80. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

DASH has been the subject of several recent analyst reports. Oppenheimer reiterated a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Benchmark restated a “buy” rating on shares of DoorDash in a research report on Tuesday. Piper Sandler restated a “neutral” rating and issued a $210.00 price target (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. BMO Capital Markets reissued an “outperform” rating on shares of DoorDash in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of DoorDash in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.66.

DoorDash Trading Up 1.7 %

The stock’s fifty day moving average price is $185.23 and its 200 day moving average price is $178.99. The stock has a market cap of $82.42 billion, a P/E ratio of 726.67 and a beta of 1.69.

Institutional Investors Weigh In On DoorDash

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in DoorDash in the fourth quarter valued at approximately $597,443,000. Capital World Investors boosted its position in 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 acquiring an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares during the period. Franklin Resources Inc. grew its position in shares of DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock worth $796,781,000 after buying an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of DoorDash during the fourth quarter valued at approximately $146,094,000. Institutional investors own 90.64% of the company’s stock.

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.