DoorDash Officer Sells $438,000 in Shares Under Trading Plan

DoorDash Chief Business Officer Keith Yandell sold 2,184 shares for about $438,460 on September 17, according to a Form 4 filing. The shares sold at an average price of $200.76.

The filing says the sale followed a Rule 10b5-1 plan Yandell adopted on June 10. Such plans set out trades in advance, so the sale was scheduled months before it took place.

After the transaction, Yandell reported direct ownership of 120,688 shares. Some of those holdings are restricted stock units, which are company awards that may convert into shares once vesting conditions are met.

The sale was a small reduction compared with his remaining stake. It does not, on its own, show that Yandell changed his view of DoorDash’s prospects; the filing identifies the plan, but gives no personal reason for the sale.

Investors have recent operating results to weigh alongside the filing. DoorDash reported second-quarter revenue of $4.5 billion, up 36% from a year earlier, while net income fell 30% to $200 million.

The company said Deliveroo’s acquisition contributed to growth. Excluding Deliveroo, revenue rose 24% and marketplace order value increased 23%, showing the business also expanded without the acquired operation.

DoorDash forecast third-quarter marketplace order value of $33 billion to $34 billion and adjusted EBITDA of $950 million to $1.1 billion. Those measures will offer investors a fresh read on demand and profitability as the company integrates Deliveroo.