Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 30.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,382 shares of the company’s stock after selling 4,884 shares during the period. Pinebridge Investments L.P.’s holdings in Doximity were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Shaker Investments LLC OH acquired a new position in Doximity during the fourth quarter worth approximately $559,000. Principal Financial Group Inc. increased its position in Doximity by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after buying an additional 4,282 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Doximity during the fourth quarter worth approximately $362,000. Stratos Wealth Partners LTD. acquired a new position in Doximity during the fourth quarter worth approximately $203,000. Finally, Wells Fargo & Company MN increased its position in Doximity by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company’s stock worth $19,698,000 after buying an additional 11,811 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

DOCS opened at $56.75 on Tuesday. The business’s fifty day moving average is $60.30 and its two-hundred day moving average is $56.37. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

Analysts Set New Price Targets

Several research analysts have commented on the company. Needham & Company LLC lifted their price target on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Bank of America boosted their target price on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Mizuho boosted their target price on Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $90.00 in a report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.39.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.40% of the stock is owned by company insiders.

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.