Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. DoorDash Inc. shares valued at $72,825 were sold by Brown Shona L on Sep 06. At $58.26 per share, Brown Shona L sold 1,250 shares. The insider’s holdings dropped to 87,278 shares worth approximately $4.99 million following the completion of this transaction.
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Also, Payne Christopher D sold 94,000 shares, netting a total of over 5,443,937 in proceeds. Following the sale of shares at $57.91 each, the insider now holds 370,890 shares.
Before that, Tang Stanley had sold 3,954 shares from its account. In a trade valued at $252,213, the Director traded DoorDash Inc. shares for $63.79 each. Upon closing the transaction, the insider’s holdings decreased to 3,954 shares, worth approximately $2.4 million.
Analysts at Raymond James started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in early June. As of May 24, 2022, Bernstein has initiated its “an Outperform” rating for DASH. Earlier on April 25, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for DASH stock.
Analyzing DASH’s Price Performance
On Wednesday, DoorDash Inc. [NYSE: DASH] plunged -0.85% to $57.17. The stock’s lowest price that day was $57.10, but it reached a high of $60.39 in the same session. During the last five days, there has been a drop of approximately -11.41%. Over the course of the year, DoorDash Inc. shares have dropped approximately -61.61%. Shares of the company reached a 52-week high of $152.49 on 01/12/22 and a 52-week low of $56.60 on 09/01/22. A 50-day SMA is recorded $68.18, while a 200-day SMA reached $92.43. Nevertheless, trading volume fell to 3.1 million shares from 5.37 million shares the previous day.
Support And Resistance Levels for DoorDash Inc. (DASH)
According to the 24-hour chart, there is a support level at 56.05, which, if violated, would cause prices to drop to 54.93. In the upper region, resistance lies at 59.34. The next price resistance is at 61.51. RSI (Relative Strength Index) is 37.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.66, which suggests the price will decrease in the coming days. Percent R is at 95.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is DoorDash Inc. subject to short interest?
Stocks of DoorDash Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.54 million shares to 18.02 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.48 million shares. A jump of 14.1% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.28 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.28.
Which companies own the most shares of DoorDash Inc. (DASH)?
According to T. Rowe Price Associates, Inc. filings, the company currently owns 26,105,597 shares, which is about 7.29% of the total DASH shares outstanding. The investor’s shares have appreciated by 998,180 from its previous 13-F filing of 25107417.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,021,141,716. Morgan Stanley Investment Managem reduced a -2.15% interest valued at $966.62 million while Sands Capital Management LLC purchased a 15,006 stake. A total of -163,994 shares of DoorDash Inc. were bought by Baillie Gifford & Co. during the quarter, and 2,011,369 were bought by BlackRock Fund Advisors. In its current portfolio, Capital Research & Management Co holds 7,232,967 shares valued at $433.25 million.
In terms of DoorDash Inc. share price expectations, FactSet research, analysts set an average price target of $110.74 in the next 12 months, up nearly 73.43% from the previous closing price of $57.66. Analysts anticipate DoorDash Inc. stock to reach $185.00 by 2022, with the lowest price target being $82.00. In spite of this, 28 analysts ranked DoorDash Inc. stock as an Overweight at the end of 2022. On April 20, 2022, Citigroup assigned a price target of “a Buy” to the stock and initiated coverage with a $155.