DoorDash (NYSE:DASH) Stock Price Down 8.3%

Shares of DoorDash, Inc. (NYSE:DASHGet Rating) dropped 8.3% during mid-day trading on Monday . The stock traded as low as $99.27 and last traded at $100.24. Approximately 81,513 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 5,576,468 shares. The stock had previously closed at $109.31.

DASH has been the subject of a number of research reports. Evercore ISI dropped their price target on DoorDash from $256.00 to $172.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Susquehanna lowered their target price on DoorDash from $260.00 to $145.00 and set a “positive” rating for the company in a research report on Thursday, February 17th. Northcoast Research began coverage on DoorDash in a research report on Wednesday, January 19th. They set a “neutral” rating for the company. Wolfe Research lowered their target price on DoorDash from $180.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday, February 17th. Finally, Bank of America lowered their target price on DoorDash from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $181.11.

The stock has a market cap of $36.23 billion and a PE ratio of -73.23. The company’s fifty day moving average is $102.64 and its 200-day moving average is $146.01.

DoorDash (NYSE:DASHGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.17). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted ($2.67) EPS. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post -1.23 earnings per share for the current fiscal year.

In related news, Director Alfred Lin acquired 183,224 shares of the business’s stock in a transaction dated Wednesday, March 9th. The shares were acquired at an average price of $92.38 per share, with a total value of $16,926,233.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 40,000 shares of the stock in a transaction on Wednesday, January 19th. The shares were sold at an average price of $129.32, for a total value of $5,172,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 449,099 shares of company stock worth $47,948,303. Company insiders own 15.54% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DASH. Cambridge Investment Research Advisors Inc. raised its stake in DoorDash by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,954 shares of the company’s stock valued at $440,000 after buying an additional 122 shares in the last quarter. Danda Trouve Investment Management Inc. acquired a new stake in shares of DoorDash during the third quarter worth about $26,000. Profund Advisors LLC increased its position in shares of DoorDash by 8.9% during the fourth quarter. Profund Advisors LLC now owns 1,585 shares of the company’s stock worth $236,000 after purchasing an additional 129 shares in the last quarter. Clearstead Advisors LLC increased its position in DoorDash by 3,850.0% in the 3rd quarter. Clearstead Advisors LLC now owns 158 shares of the company’s stock valued at $33,000 after acquiring an additional 154 shares during the period. Finally, Victory Capital Management Inc. increased its position in DoorDash by 1.1% in the 3rd quarter. Victory Capital Management Inc. now owns 14,972 shares of the company’s stock valued at $3,084,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 75.44% of the company’s stock.

About DoorDash (NYSE:DASH)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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