SAN FRANCISCO—Andy Fang, a director at DoorDash, Inc. (NYSE:NASDAQ:DASH), recently executed a series of stock transactions involving the company's Class A Common Stock. According to a Form 4 filing with the Securities and Exchange Commission, Fang sold shares totaling approximately $17.57 million over two days. The sales come as DoorDash shares trade near their 52-week high of $181.30, having delivered an impressive 72% return over the past year. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 14 additional key insights available to subscribers.
On December 12, Fang sold 50,000 shares at an average price within the range of $176.031 to $178.015 per share. The following day, he sold an additional 50,000 shares, with prices ranging from $174.311 to $175.71 per share.
These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on March 8, 2024. As a result of these sales, Fang's direct ownership of DoorDash's Class A Common Stock has been adjusted accordingly. The shares were held by The AF Living Trust UTA dated 9/4/19, for which Fang serves as the trustee.
In other recent news, DoorDash has been the subject of various analyst upgrades and raised price targets. RBC Capital Markets has increased its price target for DoorDash to $215, citing the company's balance of growth with profitability and anticipation of new supply from hiring sales personnel. BTIG has also raised its price target to $200, reflecting the company's strong quarter-to-date performance and robust revenue growth.
Citi has increased its price target for DoorDash to $211, pointing to consistent improvements in quality and selection, as well as the company's expansion into grocery delivery. Mizuho (NYSE:MFG) Securities has raised its price target to $200, highlighting DoorDash's potential for profit growth, while BofA Securities has increased its price target to $210, citing stable demand trends in the company's core U.S. restaurant business and improvements in unit economics.
These recent developments reflect DoorDash's commitment to growth and operational efficiency, as well as the positive response to the DashPass sign-up initiative through a partnership with Lyft (NASDAQ:LYFT). The company's recent acquisition of the food delivery company Wolt has also been noted as a factor contributing to its future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.