DoorDash (DASH) Stock Drops 45% From Highs as Director Cashes Out $3.5M

TLDR

• Director Stanley Tang sold 23,125 DASH shares on April 2 for $3.47M at $150 per share under a pre-arranged 10b5-1 plan.
• Insiders have sold a total of 96,673 shares worth $18.3M over the past 90 days.
• DASH missed Q4 EPS estimates ($0.48 vs $0.58 expected), though revenue rose 37.7% YoY to $3.96B.
• Stratos Wealth Advisors cut its DASH position by 90% in Q4, while several other funds added to their positions.
• Analysts still rate DASH a “Moderate Buy” with an average price target of $263.12 — well above current levels.

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DoorDash director Stanley Tang sold 23,125 Class A shares on April 2, 2026, at $150 per share, bringing in $3.47 million. The sale was made under a Rule 10b5-1 plan he set up back in December 2025.

DoorDash, Inc., DASH

After the sale, Tang directly holds 19,279 Class A shares. That’s a 52.65% drop in his direct ownership.

Tang also converted 21,433 Class B shares into Class A shares on the same day. The ST Trust, for which Tang serves as trustee, disposed of those converted shares.

He still indirectly holds 3,569,289 Class B shares, plus 7,828 Class B shares directly. Each Class B share can be converted to Class A at any time.

Tang wasn’t the only insider selling. Director Shona L. Brown sold 1,250 shares on March 9 at $176.61, totaling $220,762. In total, insiders have offloaded 96,673 shares worth $18.3 million in the past 90 days.

Insiders now own just 5.83% of the company.

Institutional Moves

On the institutional side, Stratos Wealth Advisors cut its position by 90% in Q4, selling 12,644 shares and keeping just 1,406 — worth around $318,000.

But not everyone is heading for the exit. Brighton Jones lifted its stake by 24% in Q4. Integrated Wealth Concepts and Empowered Funds both added to their positions in Q1. Sivia Capital Partners nearly doubled its stake in Q2. Institutional investors now own 90.64% of DASH.

DoorDash last reported earnings on February 18. The company posted EPS of $0.48, missing the $0.58 consensus estimate by $0.10. Revenue came in at $3.96 billion, up 37.7% year-over-year, but slightly below the $3.98 billion estimate.

Analyst Targets Still Point Higher

Despite the stock’s slide, analysts haven’t given up. The average price target sits at $263.12, with 25 analysts rating it a Buy and one a Strong Buy. Nine have it at Hold.

Truist has the highest target at $340, followed by Evercore at $300. Wolfe Research recently cut its target to $195 from $265, citing fuel cost headwinds and expected revenue pressure in Q2. Cantor Fitzgerald also trimmed its target from $285 to $230.

Citizens maintained a Market Outperform rating with a $250 target, pointing to DoorDash’s use of AI to improve operations. BofA kept its Buy rating and $272 target.

On the business side, DoorDash recently struck a delivery deal with Foot Locker, covering nearly 1,300 locations across the U.S. It also expanded its retail footprint in Australia through a new deal with Mitre 10.

The company is winding down its Zesty restaurant-discovery app, a move likely tied to cost-cutting and resource reallocation.

DASH has a 52-week low of $143.30 and a high of $285.50. The stock’s 50-day moving average is $172.14, and its 200-day is $211.59.

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