Los Angeles Capital Management LLC Grows Position in Doximity, Inc. (NASDAQ:DOCS)

Los Angeles Capital Management LLC raised its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 33.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 870,322 shares of the company’s stock after buying an additional 219,448 shares during the quarter. Los Angeles Capital Management LLC owned about 0.47% of Doximity worth $46,466,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DOCS. Creative Planning grew its holdings in Doximity by 13.7% during the 3rd quarter. Creative Planning now owns 22,104 shares of the company’s stock valued at $963,000 after buying an additional 2,671 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Doximity by 107.2% in the 3rd quarter. Blue Trust Inc. now owns 2,870 shares of the company’s stock valued at $125,000 after purchasing an additional 1,485 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Doximity by 4.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,754 shares of the company’s stock valued at $948,000 after purchasing an additional 934 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Doximity by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,240 shares of the company’s stock valued at $620,000 after purchasing an additional 985 shares during the last quarter. Finally, Smith Group Asset Management LLC lifted its stake in shares of Doximity by 38.8% in the 3rd quarter. Smith Group Asset Management LLC now owns 9,940 shares of the company’s stock valued at $433,000 after purchasing an additional 2,780 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’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 value of $1,152,400.00. Following the sale, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 37.40% of the company’s stock.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $72.49 on Tuesday. The business’s 50 day simple moving average is $60.57 and its 200-day simple moving average is $49.71. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 72.49, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Leerink Partnrs raised Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Canaccord Genuity Group lifted their target price on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Needham & Company LLC lifted their target price on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Stephens assumed coverage on Doximity in a research report on Friday, December 20th. They set an “equal weight” rating and a $55.00 target price for the company. Eleven investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.22.

About Doximity

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.