Cigna Investments Inc. New Grows Stake in DoorDash, Inc. (NASDAQ:DASH)

Cigna Investments Inc. New increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,564 shares of the company’s stock after acquiring an additional 103 shares during the period. Cigna Investments Inc. New’s holdings in DoorDash were worth $598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its position in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $34,000. ORG Wealth Partners LLC purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of DoorDash by 34.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays boosted their target price on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. KeyCorp boosted their target price on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. boosted their target price on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research boosted their price target on DoorDash from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Citigroup boosted their price target on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.39.

DoorDash Stock Down 1.5 %

NASDAQ:DASH opened at $192.63 on Tuesday. DoorDash, Inc. has a one year low of $99.32 and a one year high of $199.17. The firm’s fifty day moving average is $177.18 and its two-hundred day moving average is $155.44.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the transaction, the director now owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,040,758 shares of company stock valued at $181,434,201. 7.92% of the stock is owned by insiders.

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.