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SAN FRANCISCO—Inukonda Ravi, the Chief Financial Officer of DoorDash, Inc. (NYSE:NASDAQ:DASH), an $81 billion market cap company whose stock has surged nearly 40% over the past six months, recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On March 24, Mr. Ravi sold shares of the company’s Class A common stock, totaling approximately $2.89 million. The shares were sold at prices ranging from $189.31 to $198.791 per share. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with notable price volatility being a key characteristic.
In addition to the sales, Mr. Ravi also exercised stock options to acquire 800 shares at a price of $7.66 each, amounting to a total value of $6,128. Following these transactions, Mr. Ravi holds 338,055 shares of DoorDash stock.
These transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell company stock for the purpose of avoiding insider trading accusations.
In other recent news, DoorDash has announced its inclusion in the S&P 500 index, a significant milestone reflecting its sustained financial performance. This development follows DoorDash’s recent earnings report, which showcased nearly $140 million in GAAP profit, marking the second consecutive quarter of profitability. The company has surpassed the breakeven point for the last four quarters on a GAAP basis, making it eligible for the S&P 500 inclusion. BofA Securities maintains a Buy rating and a $245 price target, viewing this inclusion as a positive catalyst for the stock. Jefferies also reiterated its Buy rating with a $250 price target, citing DoorDash’s international expansion as a key growth driver. Bernstein analysts maintain an Outperform rating with a $210 target, highlighting DoorDash’s consistent performance and strategic focus. Additionally, DoorDash and Dollar General (NYSE:DG) have expanded SNAP/EBT payment options to over 16,000 Dollar General locations, enhancing grocery delivery access for SNAP beneficiaries. This partnership aims to provide greater convenience and accessibility for those facing health or mobility challenges.
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