Massar Capital Management LP Invests $1.79 Million in Doximity, Inc. (NASDAQ:DOCS)

Massar Capital Management LP bought a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 33,540 shares of the company's stock, valued at approximately $1,791,000. Doximity makes up about 2.0% of Massar Capital Management LP's portfolio, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in Doximity in the 3rd quarter valued at approximately $46,000. Barclays PLC boosted its stake in shares of Doximity by 60.5% in the third quarter. Barclays PLC now owns 53,401 shares of the company's stock valued at $2,327,000 after buying an additional 20,125 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Doximity during the third quarter worth $24,691,000. Franklin Resources Inc. grew its holdings in Doximity by 564.1% during the third quarter. Franklin Resources Inc. now owns 83,098 shares of the company's stock worth $3,487,000 after acquiring an additional 70,585 shares during the period. Finally, American Trust purchased a new position in Doximity in the third quarter worth $247,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated 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 transaction, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 37.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DOCS has been the topic of a number of recent analyst reports. Bank of America upped their price target on shares of Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Truist Financial dropped their target price on shares of Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Morgan Stanley reduced their price objective on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday. Finally, Canaccord Genuity Group boosted their target price on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Doximity has a consensus rating of "Moderate Buy" and a consensus target price of $65.39.

Doximity Stock Up 0.7 %

Shares of DOCS stock traded up $0.38 during trading hours on Friday, hitting $56.67. 1,364,010 shares of the company were exchanged, compared to its average volume of 1,988,409. The firm has a fifty day moving average of $60.70 and a 200 day moving average of $56.10. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The firm has a market cap of $10.58 billion, a PE ratio of 56.67, a PEG ratio of 4.10 and a beta of 1.41.

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.