Cigna Investments Inc. New Buys 383 Shares of DoorDash, Inc. (NASDAQ:DASH)

Cigna Investments Inc. New raised its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,550 shares of the company’s stock after purchasing an additional 383 shares during the quarter. Cigna Investments Inc. New’s holdings in DoorDash were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DASH. Raymond James & Associates grew its stake in DoorDash by 25.9% during the fourth quarter. Raymond James & Associates now owns 15,805 shares of the company’s stock worth $1,563,000 after purchasing an additional 3,254 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of DoorDash by 290.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 195,752 shares of the company’s stock valued at $19,358,000 after buying an additional 145,624 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in DoorDash during the 4th quarter valued at about $769,000. Cerity Partners LLC lifted its holdings in shares of DoorDash by 94.4% in the fourth quarter. Cerity Partners LLC now owns 87,908 shares of the company’s stock valued at $8,693,000 after purchasing an additional 42,690 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of DoorDash by 19.6% during the fourth quarter. Perigon Wealth Management LLC now owns 3,181 shares of the company’s stock valued at $315,000 after buying an additional 522 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Up 2.6 %

Shares of NASDAQ:DASH traded up $3.36 during midday trading on Thursday, reaching $130.29. 3,437,797 shares of the company traded hands, compared to its average volume of 4,129,059. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34. The firm’s fifty day moving average price is $111.73 and its two-hundred day moving average price is $119.44. The firm has a market capitalization of $53.28 billion, a price-to-earnings ratio of -120.64, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company earned ($0.44) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts forecast that DoorDash, Inc. will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of analyst reports. Redburn Atlantic began coverage on DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 price target for the company. Argus began coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Royal Bank of Canada dropped their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. JMP Securities increased their price target on DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Finally, Susquehanna lifted their price target on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.93.

Insider Buying and Selling

In related 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keith Yandell sold 12,088 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the completion of the transaction, the insider now owns 161,651 shares in the company, valued at $18,079,047.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 518,187 shares of company stock valued at $57,611,706. Company insiders own 7.92% of the company’s stock.

DoorDash Company 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.