DoorDash, Inc. (NASDAQ:DASH) Short Interest Up 5.7% in December

DoorDash, Inc. (NASDAQ:DASH) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 10,260,000 shares, a growth of 5.7% from the November 30th total of 9,710,000 shares. Based on an average daily trading volume, of 3,000,000 shares, the short-interest ratio is currently 3.4 days.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,600,474.64. This represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Insiders have sold 917,362 shares of company stock valued at $154,996,189 over the last three months. Company insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors and hedge funds have recently added to or reduced their stakes in DASH. Rakuten Securities Inc. grew its stake in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash in the second quarter valued at $32,000. Quest Partners LLC increased its holdings in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in DoorDash during the third quarter worth $54,000. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Up 0.8 %

Shares of DASH stock opened at $169.08 on Thursday. DoorDash has a 12-month low of $93.33 and a 12-month high of $181.78. The firm has a fifty day moving average of $170.59 and a 200-day moving average of $140.88. The firm has a market capitalization of $70.24 billion, a price-to-earnings ratio of -375.73, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company posted ($0.19) EPS. The business’s quarterly revenue was up 25.0% on a year-over-year basis. Research analysts expect that DoorDash will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on DASH shares. Argus raised DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Evercore ISI increased their target price on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Loop Capital boosted their price target on shares of DoorDash from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Benchmark increased their price objective on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.70.

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.