DoorDash, Inc. (NASDAQ:DASH) Sees Significant Increase in Short Interest

DoorDash, Inc. (NASDAQ:DASH) saw a significant growth in short interest during 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 volume of 3,000,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Susquehanna boosted their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Oppenheimer upped their price target on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Loop Capital increased their price objective 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. The Goldman Sachs Group boosted their target price on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a report on Wednesday, September 25th. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $168.70.

DoorDash Price Performance

Shares of DASH stock opened at $170.65 on Friday. The stock’s 50-day moving average is $170.94 and its 200 day moving average is $141.09. DoorDash has a 1-year low of $93.33 and a 1-year high of $181.78. The company has a market cap of $70.89 billion, a P/E ratio of -379.22, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the business earned ($0.19) EPS. On average, analysts anticipate that DoorDash will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the transaction, the director now owns 18,089 shares in the company, valued at approximately $2,710,274.87. This trade represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 81,249 shares of the company’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 value of $12,014,289.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 924,362 shares of company stock worth $156,181,429. Insiders own 7.92% of the company’s stock.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently bought and sold shares of DASH. Asset Management One Co. Ltd. lifted its holdings in shares of DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after purchasing an additional 10,755 shares during the last quarter. Marshall Wace LLP raised its stake in DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after buying an additional 610,388 shares during the last quarter. Forsta AP Fonden boosted its holdings in DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after acquiring an additional 10,100 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of DoorDash by 48.8% during the third quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after acquiring an additional 3,498 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.