Shaker Investments LLC OH Takes Position in Doximity, Inc. (NASDAQ:DOCS)

Shaker Investments LLC OH purchased a new stake in Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,470 shares of the company’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after purchasing an additional 235 shares during the period. Farther Finance Advisors LLC lifted its stake in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after buying an additional 603 shares during the period. Morse Asset Management Inc bought a new position in Doximity during the third quarter worth about $46,000. GAMMA Investing LLC boosted its holdings in Doximity by 40.1% during the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock worth $63,000 after buying an additional 412 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Doximity by 441.9% during the 3rd quarter. Covestor Ltd now owns 1,680 shares of the company’s stock worth $73,000 after buying an additional 1,370 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $90.00 in a report on Friday. Canaccord Genuity Group cut shares of Doximity from a “buy” rating to a “hold” rating and upped their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Barclays lifted their target price on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Raymond James reiterated an “outperform” rating and issued a $83.00 price objective (up from $65.00) on shares of Doximity in a research report on Friday. Finally, Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $78.00 in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now owns 6,360 shares of the company’s stock, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 37.40% of the company’s stock.

Doximity Stock Up 4.9 %

DOCS stock opened at $83.11 on Tuesday. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 56.56, a PEG ratio of 4.61 and a beta of 1.39. The company’s fifty day simple moving average is $56.20 and its 200 day simple moving average is $46.30. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21.

Doximity Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.