Traders Buy Large Volume of Put Options on DoorDash (NYSE:DASH)

DoorDash, Inc. (NYSE:DASH) saw unusually large options trading on Tuesday. Investors acquired 19,126 put options on the stock. This is an increase of 15% compared to the typical daily volume of 16,591 put options.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 67,000 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $72.87, for a total transaction of $4,882,290.00. Following the sale, the director now directly owns 49,688 shares of the company’s stock, valued at approximately $3,620,764.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Gordon S. Lee sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $81.41, for a total transaction of $81,410.00. Following the sale, the chief accounting officer now directly owns 105,321 shares in the company, valued at approximately $8,574,182.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $72.87, for a total value of $4,882,290.00. Following the sale, the director now owns 49,688 shares in the company, valued at $3,620,764.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,064,997 shares of company stock valued at $85,730,296. Company insiders own 9.59% of the company’s stock.

Institutional Trading of DoorDash

Several institutional investors have recently made changes to their positions in DASH. Manchester Capital Management LLC purchased a new stake in shares of DoorDash during the 1st quarter valued at approximately $25,000. CI Investments Inc. raised its position in DoorDash by 122.4% in the fourth quarter. CI Investments Inc. now owns 714 shares of the company’s stock valued at $35,000 after purchasing an additional 393 shares during the period. Quadrant Capital Group LLC raised its position in DoorDash by 541.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,007 shares of the company’s stock valued at $49,000 after purchasing an additional 850 shares during the period. Natixis purchased a new stake in DoorDash in the second quarter valued at approximately $52,000. Finally, UMB Bank n.a. raised its position in DoorDash by 31.4% in the first quarter. UMB Bank n.a. now owns 924 shares of the company’s stock valued at $59,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

DoorDash Price Performance

Shares of DASH stock traded down $2.04 during trading on Tuesday, hitting $78.88. 3,089,206 shares of the stock traded hands, compared to its average volume of 3,870,805. The firm has a market capitalization of $31.02 billion, a P/E ratio of -23.44 and a beta of 1.63. The firm’s fifty day moving average price is $82.55 and its 200-day moving average price is $71.43. DoorDash has a 52-week low of $41.37 and a 52-week high of $92.61.

DoorDash (NYSE:DASH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.06 billion. DoorDash had a negative net margin of 16.47% and a negative return on equity of 13.14%. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.72) EPS. As a group, equities research analysts expect that DoorDash will post -1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DASH. UBS Group raised their target price on DoorDash from $70.00 to $100.00 in a research report on Thursday, August 3rd. Gordon Haskett cut DoorDash from a “buy” rating to a “hold” rating and dropped their target price for the company from $73.00 to $72.00 in a research report on Wednesday, June 14th. Truist Financial raised their target price on DoorDash from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Oppenheimer lifted their price objective on DoorDash from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, Moffett Nathanson cut DoorDash from an “outperform” rating to a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Hold” and an average target price of $89.77.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, 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; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.