DoorDash Sees Unusually High Options Volume (NASDAQ:DASH)

by · The Cerbat Gem

DoorDash, Inc. (NASDAQ:DASH – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors bought 70,237 call options on the stock. This represents an increase of approximately 361% compared to the average volume of 15,247 call options.

Insider Buying and Selling

In other news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 843,196 shares of company stock worth $137,525,818 in the last quarter. 7.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DoorDash

Several institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. raised its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash in the 2nd quarter valued at approximately $32,000. Quest Partners LLC lifted its stake in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in DoorDash by 141.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after acquiring an additional 206 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Piper Sandler upped their price objective on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI raised their target price on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Citigroup boosted their price target on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, JMP Securities increased their price objective on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $167.27.

Check Out Our Latest Stock Analysis on DoorDash

DoorDash Stock Performance

NASDAQ:DASH traded up $2.51 during mid-day trading on Wednesday, hitting $176.41. The company had a trading volume of 3,033,987 shares, compared to its average volume of 3,741,918. The firm has a market cap of $73.28 billion, a P/E ratio of -386.44, a P/E/G ratio of 14.09 and a beta of 1.70. DoorDash has a fifty-two week low of $93.33 and a fifty-two week high of $181.30. The business’s fifty day moving average is $162.87 and its two-hundred day moving average is $134.39.

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

About DoorDash

(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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