SAN FRANCISCO—DoorDash, Inc.'s (NYSE:NASDAQ:DASH) Chief Financial Officer, Inukonda Ravi, has sold a significant portion of his holdings in the company. According to a recent SEC filing, Ravi sold 7,000 shares of Class A Common Stock on December 30, 2024. The shares were sold at prices ranging from $166.829 to $170.23, totaling approximately $1.19 million. The sale comes as DoorDash's stock trades near its 52-week high of $181.78, having delivered an impressive 74% return over the past year. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Following these transactions, Ravi retains ownership of 366,993 shares in the company. The sales were conducted under a prearranged 10b5-1 trading plan, which was adopted on September 7, 2023. This plan allows insiders to sell a predetermined number of shares at a predetermined time, providing a measure of protection against accusations of insider trading. The company maintains strong financial health with a "Good" rating from InvestingPro, supported by robust revenue growth of 25% in the last twelve months.
DoorDash, Inc., headquartered in San Francisco, operates a leading platform for food delivery services, connecting consumers with local restaurants and businesses. With a market capitalization of approximately $71 billion, the company has established itself as a dominant player in the food delivery sector. Discover more detailed insights and 13 additional ProTips with InvestingPro's comprehensive research report.
In other recent news, DoorDash has been the center of positive attention from various analyst firms. Truist Securities raised their stock target for DoorDash to $217, following a strong Q4 performance, particularly in the North American market. The company's gross order volume (GOV) exceeded consensus estimates, reaching over $19 billion. This led to a revision of the fourth-quarter U.S. marketplace GOV forecast to $19.2 billion, reflecting a solid revenue performance of $10.15 billion over the last year.
In addition to Truist Securities, other firms like RBC Capital Markets, BTIG, Citi, and Mizuho (NYSE:MFG) Securities have also revised their price targets upward. RBC Capital Markets raised the price target to $215, citing DoorDash's balanced approach to growth and profitability. BTIG increased its price target to $200, based on DoorDash's strong quarterly performance and robust revenue growth. Similarly, Citi maintained a Buy rating for DoorDash and increased its price target to $211, highlighting consistent improvements in quality and selection, and the efficiency of its marketplace. Mizuho Securities raised DoorDash's price target to $200, based on detailed analysis of the company's operating metrics.
These recent developments underscore DoorDash's commitment to growth and operational efficiency. As the company continues to impress with its performance, it remains to be seen how these analyst upgrades will influence investor sentiment moving forward.
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