William Blair Investment Management LLC Sells 244,283 Shares of Doximity, Inc. (NASDAQ:DOCS)

William Blair Investment Management LLC reduced its position in Doximity, Inc. (NASDAQ:DOCS) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,225,933 shares of the company’s stock after selling 244,283 shares during the quarter. Doximity comprises about 0.8% of William Blair Investment Management LLC’s holdings, making the stock its 18th biggest holding. William Blair Investment Management LLC’s holdings in Doximity were worth $332,403,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after buying an additional 235 shares during the period. Larson Financial Group LLC increased its stake in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after buying an additional 250 shares during the period. Morse Asset Management Inc purchased a new position in Doximity during the 3rd quarter valued at $46,000. Finally, IFP Advisors Inc increased its position in Doximity by 344.1% during the 4th quarter. IFP Advisors Inc now owns 1,328 shares of the company’s stock valued at $71,000 after purchasing an additional 1,029 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 37.40% of the company’s stock.

Doximity Trading Up 4.2 %

NASDAQ DOCS opened at $63.33 on Monday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21. The company’s 50 day moving average is $63.63 and its two-hundred day moving average is $52.72.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOCS. The Goldman Sachs Group increased their price target on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC raised their price target on shares of Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 7th. Bank of America raised their price target on shares of Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, Stephens initiated coverage on shares of Doximity in a report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.22.

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.