DoorDash Target of Unusually High Options Trading (NASDAQ:DASH)

DoorDash, Inc. (NASDAQ:DASH) saw unusually large options trading on Wednesday. Investors acquired 70,237 call options on the company. This represents an increase of approximately 361% compared to the typical daily volume of 15,247 call options.

DoorDash Stock Performance

NASDAQ DASH opened at $176.02 on Friday. The stock’s 50-day simple moving average is $164.21 and its two-hundred day simple moving average is $134.97. DoorDash has a twelve month low of $93.33 and a twelve month high of $181.30.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for 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 quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) EPS. Research analysts predict that DoorDash will post 0.26 EPS for the current year.

Insider Transactions at DoorDash

In other DoorDash 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 transaction, the director now owns 18,089 shares in the company, valued at $2,710,274.87. The trade was a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 793,196 shares of company stock worth $131,015,818. Company insiders own 7.92% of the company’s stock.

Institutional Trading of DoorDash

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

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. 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. Piper Sandler lifted their target price on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Raymond James initiated coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target on the stock. Finally, Citigroup lifted their target price on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $167.27.

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.