The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. DoorDash Inc shares valued at $879,824 were sold by Adarkar Prabir on Jun 03 ’24. At $109.98 per share, Adarkar Prabir sold 8,000 shares. The insider’s holdings dropped to 1,002,787 shares worth approximately $114.39 million following the completion of this transaction.
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Also, Inukonda Ravi sold 7,000 shares, netting a total of over 773,290 in proceeds. Following the sale of shares at $110.47 each, the insider now holds 441,851 shares.
Before that, Sherringham Tia had sold 11,740 shares from its account. In a trade valued at $1,296,810, the GENERAL COUNSEL AND SECRETARY traded DoorDash Inc shares for $110.46 each. Upon closing the transaction, the insider’s holdings decreased to 11,740 shares, worth approximately $20.93 million.
As published in their initiating research note from Loop Capital on April 19, 2024, DoorDash Inc [DASH] has been a Buy and the price target has been revised to $170. Analysts at MoffettNathanson upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid April. As of April 04, 2024, The Benchmark Company has initiated its “Buy” rating for DASH. Earlier on March 15, 2024, Piper Sandler upgraded its rating. Their new recommendation was “a Neutral” for DASH stock which previously was a “an Underweight”.
Analyzing DASH Stock Performance
During the last five days, there has been a surge of approximately 3.19%. Over the course of the year, DoorDash Inc shares have jumped approximately 15.35%. Shares of the company reached a 52-week high of $143.34 on 03/27/24 and a 52-week low of $93.33 on 01/04/24. A 50-day SMA is recorded $123.66, while a 200-day SMA reached $104.56. Nevertheless, trading volume fell to 3.58 million shares from 3.33 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 111.85, which, if violated, would cause prices to drop to 109.62. In the upper region, resistance lies at 115.36. The next price resistance is at 116.65. RSI (Relative Strength Index) is 46.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 32.68%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
