DoorDash Target of Unusually High Options Trading (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) saw some unusual options trading on Tuesday. Traders acquired 82,674 call options on the company. This is an increase of approximately 444% compared to the typical volume of 15,188 call options.

Analyst Ratings Changes

Several analysts recently commented on DASH shares. Wolfe Research assumed coverage on DoorDash in a report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 price objective for the company. Barclays increased their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of DoorDash in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $146.44.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. The disclosure for this sale can be found here. Insiders sold a total of 281,503 shares of company stock valued at $33,988,063 in the last 90 days. Corporate insiders own 7.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new position in shares of DoorDash in the 1st quarter valued at about $2,969,000. D L Carlson Investment Group Inc. bought a new position in shares of DoorDash during the fourth quarter valued at approximately $2,421,000. KBC Group NV raised its position in shares of DoorDash by 64.8% during the 4th quarter. KBC Group NV now owns 31,879 shares of the company’s stock worth $3,153,000 after purchasing an additional 12,538 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of DoorDash by 9.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock worth $2,807,000 after purchasing an additional 2,125 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of DoorDash by 7.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after purchasing an additional 47,725 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

DASH opened at $143.58 on Thursday. DoorDash has a 1 year low of $69.90 and a 1 year high of $146.36. The company’s 50 day simple moving average is $127.41 and its 200 day simple moving average is $122.12. The stock has a market capitalization of $58.71 billion, a PE ratio of -132.94, a P/E/G ratio of 295.70 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business earned ($0.44) earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash will post 0.01 earnings per share for the current fiscal 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.