DoorDash Director Andy Fang Sells $17.57 Million in Investing.com Stock

SAN FRANCISCO – Andy Fang, a director at DoorDash, Inc. (NYSE:NASDAQ:), recently completed a series of stock transactions involving the company's Class A common stocks. According to a Form 4 filing with the Securities and Exchange Commission, Fang disposed of shares totaling about $17.57 million in two days. The sales come as DoorDash shares are trading near their 52-week high of $181.30 and have returned an impressive 72% over the past twelve months. InvestingPro's 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 of between $176,031 and $178,015 per share. The following day, he sold an additional 50,000 shares at prices between $174,311 and $175.71 per share.

These transactions were conducted under a Rule 10b5-1 trading plan adopted on March 8, 2024. As a result of these sales, Fang's direct ownership of DoorDash's Class A Common Stock was adjusted accordingly. The shares were held by The AF Living Trust UTA from September 4, 2019, taken in as trustee for the catch.

In other recent news, DoorDash has been the subject of various analyst upgrades and increased price targets. RBC Capital Markets raised its price target on DoorDash to $215, citing the company's balance between growth and profitability and expectations of new resources through sales hiring. BTIG also increased its price target to $200, reflecting the company's strong performance in the current quarter and robust revenue growth.

Citi raised its price target on DoorDash to $211, citing continued improvements in quality and selection as well as the company's expansion into food delivery. Mizuho Securities raised its price target to $200, highlighting DoorDash's potential for earnings growth, while BofA Securities raised its price target to $210, citing stable demand trends in its core U.S. restaurant business and improvements in unit cost 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. The recent acquisition of food delivery service Wolt was also cited as a factor in the company's future growth.

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