Cigna Investments Inc. New Sells 89 Shares of DoorDash, Inc. (NASDAQ:DASH)

Cigna Investments Inc. New lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 3,461 shares of the company’s stock after selling 89 shares during the quarter. Cigna Investments Inc. New’s holdings in DoorDash were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. United Asset Strategies Inc. acquired a new stake in DoorDash in the 3rd quarter worth $1,092,000. US Bancorp DE lifted its stake in shares of DoorDash by 8.0% in the third quarter. US Bancorp DE now owns 33,122 shares of the company’s stock valued at $4,727,000 after buying an additional 2,456 shares during the period. First Trust Direct Indexing L.P. grew its position in DoorDash by 11.1% during the third quarter. First Trust Direct Indexing L.P. now owns 5,704 shares of the company’s stock worth $814,000 after buying an additional 568 shares in the last quarter. abrdn plc increased its stake in DoorDash by 63.5% during the third quarter. abrdn plc now owns 72,389 shares of the company’s stock valued at $10,332,000 after acquiring an additional 28,127 shares during the period. Finally, Smith Group Asset Management LLC acquired a new position in DoorDash in the 3rd quarter valued at approximately $313,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DASH has been the topic of a number of research reports. Argus started coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Bank of America raised their price objective on shares of DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James started coverage on shares of DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Evercore ISI raised their price target on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.12.

DoorDash Stock Down 0.7 %

DASH stock opened at $155.66 on Friday. The business has a fifty day moving average of $140.40 and a 200-day moving average of $124.21. The company has a market cap of $64.06 billion, a P/E ratio of -345.91, a PEG ratio of 331.02 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $83.58 and a twelve month high of $165.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS. As a group, equities research analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock valued at $53,725,640 over the last ninety days. Insiders own 7.92% of the company’s stock.

DoorDash Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.