Short Interest in DoorDash, Inc. (NASDAQ:DASH) Rises By 12.3%

DoorDash, Inc. (NASDAQ:DASH) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 13,170,000 shares, a growth of 12.3% from the August 31st total of 11,730,000 shares. Based on an average daily volume of 4,060,000 shares, the days-to-cover ratio is currently 3.2 days.

DoorDash Price Performance

Shares of DASH stock traded down $1.46 during mid-day trading on Tuesday, hitting $141.27. 1,281,138 shares of the stock traded hands, compared to its average volume of 3,923,493. DoorDash has a 52-week low of $69.90 and a 52-week high of $146.36. The stock has a market cap of $57.77 billion, a P/E ratio of -132.16, a P/E/G ratio of 295.70 and a beta of 1.69. The stock’s fifty day moving average is $125.87 and its two-hundred day moving average is $121.89.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm posted ($0.44) earnings per share. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts forecast that DoorDash will post 0.01 EPS for the current fiscal year.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares in the company, valued at $7,822,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the transaction, the director now directly owns 65,186 shares in the company, valued at approximately $7,822,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,503 shares of company stock valued at $33,988,063. 7.92% of the stock is owned by insiders.

Institutional Investors Weigh In On DoorDash

Several institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of DoorDash by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after purchasing an additional 82 shares during the last quarter. Everhart Financial Group Inc. grew its holdings in shares of DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares during the last quarter. GAMMA Investing LLC increased its position in shares of DoorDash by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $101,000 after acquiring an additional 108 shares during the period. E Fund Management Co. Ltd. raised its stake in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after acquiring an additional 111 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in DoorDash by 21.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Raymond James assumed coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. Barclays raised their price objective on DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on DoorDash in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Roth Mkm increased their price target on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.44.

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.