DoorDash, Inc. (NASDAQ:DASH) Sees Large Growth in Short Interest

by · The Markets Daily

DoorDash, Inc. (NASDAQ:DASH – Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 11,730,000 shares, an increase of 8.2% from the August 15th total of 10,840,000 shares. Based on an average trading volume of 4,050,000 shares, the short-interest ratio is presently 2.9 days.

Analyst Ratings Changes

A number of research firms have weighed in on DASH. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. Argus initiated coverage on DoorDash in a research note on Tuesday, July 23rd. They issued a “hold” rating on the stock. KeyCorp initiated coverage on DoorDash in a report on Thursday, July 11th. They set a “sector weight” rating on the stock. Evercore ISI raised their price objective on DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Morgan Stanley raised their price objective on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

View Our Latest Stock Analysis on DoorDash

DoorDash Stock Up 2.0 %

Shares of NASDAQ:DASH opened at $132.48 on Thursday. The company has a market cap of $54.17 billion, a P/E ratio of -122.67, a PEG ratio of 275.59 and a beta of 1.69. DoorDash has a 52 week low of $69.90 and a 52 week high of $143.34. The company has a 50-day moving average price of $119.51 and a 200 day moving average price of $121.34.

DoorDash (NASDAQ:DASH – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.44) EPS. Analysts expect that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In other news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the sale, the director now directly owns 70,191 shares in the company, valued at $7,789,095.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other DoorDash 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 value of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the sale, the director now owns 70,191 shares in the company, valued at $7,789,095.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,769 shares of company stock worth $34,760,113. Corporate insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

A number of hedge funds have recently added to or reduced their stakes in DASH. Spire Wealth Management acquired a new stake in shares of DoorDash during the 1st quarter valued at approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC acquired a new stake in shares of DoorDash during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc lifted its position in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. Finally, ORG Partners LLC lifted its position in shares of 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 during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

(Get Free Report)

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.

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