DoorDash, Inc. (NASDAQ:DASH – Get Free Report) Director Stanley Tang sold 2,160 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $220.62, for a total transaction of $476,539.20. Following the sale, the director directly owned 38,058 shares in the company, valued at $8,396,355.96. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Stanley Tang also recently made the following trade(s):
- On Friday, August 21st, Stanley Tang sold 72,367 shares of DoorDash stock. The shares were sold at an average price of $225.16, for a total transaction of $16,294,153.72.
- On Friday, August 21st, Stanley Tang sold 9,999 shares of DoorDash stock. The stock was sold at an average price of $225.00, for a total transaction of $2,249,775.00.
- On Monday, August 3rd, Stanley Tang sold 67,693 shares of DoorDash stock. The shares were sold at an average price of $200.63, for a total transaction of $13,581,246.59.
- On Thursday, July 2nd, Stanley Tang sold 23,125 shares of DoorDash stock. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75.
DoorDash Trading Up 2.5%
Shares of NASDAQ:DASH opened at $229.06 on Tuesday. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $99.25 billion, a P/E ratio of 119.93 and a beta of 1.78. The company has a 50-day simple moving average of $193.97 and a 200 day simple moving average of $175.40.
Key Stories Impacting DoorDash
Here are the key news stories impacting DoorDash this week:
- Positive Sentiment: DoorDash participated in Airbound’s $37 million funding round. Airbound develops delivery drones and plans to use the capital to expand manufacturing, giving DoorDash exposure to technology that could eventually improve delivery speed and operating efficiency. The investment is a longer-term strategic catalyst rather than an immediate earnings driver. Airbound raises $37 million from Greenoaks, DoorDash, others; aims to scale up drone delivery Airbound Bags $37 Mn From Greenoaks, DoorDash To Scale Drone Manufacturing
- Positive Sentiment: DoorDash launched a season-long college football rewards program and a related marketing campaign featuring Reggie Bush, Jameis Winston and Lane Kiffin. The initiatives could increase brand visibility, customer engagement and order volume during a major sports season, though the articles provide no financial guidance or expected revenue impact. DoorDash Launches Season-Long Rewards Program for College Football Fans Reggie Bush, Jameis Winston And Lane Kiffin Star In New DoorDash Campaign
- Neutral Sentiment: COO Prabir Adarkar and director Stanley Tang reported several stock sales totaling roughly $22.8 million. The transactions were conducted under a Rule 10b5-1 plan or to cover tax withholding on vested equity awards, reducing their bearish significance; however, the scale of the sales may attract some investor attention. DoorDash insider transaction filings
- Neutral Sentiment: A roundup naming DoorDash among restaurant stocks to watch provides limited new information and is unlikely to materially change the investment outlook. Best Restaurant Stocks To Watch Now – August 21st
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Wedbush raised their price target on DoorDash from $205.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday. Rothschild & Co Redburn set a $350.00 price objective on shares of DoorDash in a report on Tuesday, May 12th. Cantor Fitzgerald increased their price objective on shares of DoorDash from $230.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Guggenheim restated a “buy” rating and set a $255.00 target price on shares of DoorDash in a research note on Tuesday, June 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $220.00 target price (up from $205.00) on shares of DoorDash in a report on Thursday, August 6th. Twenty-three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.53.
View Our Latest Stock Report on DASH
Institutional Investors Weigh In On DoorDash
Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in DoorDash by 16,825.6% in the 2nd quarter. California State Teachers Retirement System now owns 103,516,163 shares of the company’s stock valued at $19,101,838,000 after purchasing an additional 102,904,566 shares during the period. Norges Bank bought a new position in shares of DoorDash during the fourth quarter worth approximately $1,093,650,000. Wellington Management Group LLP increased its holdings in shares of DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after buying an additional 3,447,754 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of DoorDash by 40.2% in the first quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after buying an additional 2,225,954 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.
DoorDash Company Profile
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.
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