Decline in DASH’s short interest indicates Bullish sentiment


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 $1,477,306 were sold by Adarkar Prabir on Aug 21. At $76.02 per share, Adarkar Prabir sold 19,432 shares. The insider’s holdings dropped to 986,676 shares worth approximately $76.31 million following the completion of this transaction.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


Also, Inukonda Ravi sold 12,830 shares, netting a total of over 975,429 in proceeds. Following the sale of shares at $76.03 each, the insider now holds 467,288 shares.

Before that, Sherringham Tia had sold 12,516 shares from its account. In a trade valued at $951,367, the General Counsel and Secretary traded DoorDash Inc. shares for $76.01 each. Upon closing the transaction, the insider’s holdings decreased to 12,516 shares, worth approximately $21.18 million.

As published in a research note from BofA Securities on August 01, 2023, DoorDash Inc. [DASH] has been retained to a Buy and the price target has been revised to $95. This represents a 18.59% premium over Wednesday’s closing price.

Analyzing DASH Stock Performance

On Wednesday, DoorDash Inc. [NYSE: DASH] plunged -0.64% to $77.34. The stock’s lowest price that day was $76.94, but it reached a high of $78.40 in the same session. During the last five days, there has been a drop of approximately -3.07%. Over the course of the year, DoorDash Inc. shares have jumped approximately 58.42%. Shares of the company reached a 52-week high of $92.61 on 07/31/23 and a 52-week low of $45.93 on 01/06/23. A 50-day SMA is recorded $80.04, while a 200-day SMA reached $64.26. Nevertheless, trading volume fell to 1.8 million shares from 5.92 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 76.72, which, if violated, would cause prices to drop to 76.10. In the upper region, resistance lies at 78.18. The next price resistance is at 79.02. RSI (Relative Strength Index) is 39.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.92, which suggests the price will decrease in the coming days. Percent R is at 81.28%, 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 steep in short interest on Jul 30, 2023 dropping by -1.87 million shares to 14.94 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 16.81 million shares. A decline of -12.52% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.55 of the overall float, the days-to-cover ratio (short ratio) decline to 5.55.

Which companies own the most shares of DoorDash Inc. (DASH)?

According to The Vanguard Group, Inc. filings, the company currently owns 25,645,353 shares, which is about 7.11% of the total DASH shares outstanding. The investor’s shares have appreciated by 292,429 from its previous 13-F filing of 25352924.0 shares. With the completion of the sale transaction, Morgan Stanley Investment Managem’s stake is now worth $2,324,246,698. Capital Research & Management Co acquire a 3.34% interest valued at $1.66 billion while Baillie Gifford & Co. purchased a 2,527,951 stake. A total of 1,241,701 shares of DoorDash Inc. were bought by BlackRock Fund Advisors during the quarter, and -304,957 were sold by Sands Capital Management LLC. In its current portfolio, Capital Research & Management Co holds 7,994,552 shares valued at $725.83 million.

In terms of DoorDash Inc. share price expectations, FactSet research, analysts set an average price target of $94.46 in the next 12 months, up nearly 22.05% from the previous closing price of $77.84. Analysts anticipate DoorDash Inc. stock to reach $125.00 by 2023, with the lowest price target being $47.00.


Please enter your comment!
Please enter your name here