Moran Wealth Management LLC Acquires New Position in Doximity, Inc. (NASDAQ:DOCS)

Moran Wealth Management LLC purchased a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,919 shares of the company's stock, valued at approximately $3,306,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its position in shares of Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company's stock worth $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. State Street Corp raised its holdings in Doximity by 2.5% in the third quarter. State Street Corp now owns 3,693,982 shares of the company's stock worth $160,947,000 after purchasing an additional 88,922 shares in the last quarter. Geode Capital Management LLC lifted its position in Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock valued at $124,503,000 after buying an additional 472,565 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Doximity by 33.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 870,322 shares of the company's stock valued at $46,466,000 after buying an additional 219,448 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Doximity by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,524 shares of the company's stock worth $41,565,000 after buying an additional 25,523 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.40% of the company's stock.

Wall Street Analyst Weigh In

DOCS has been the subject of a number of recent research reports. KeyCorp lowered their price target on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $60.00 to $90.00 in a report on Friday, February 7th. Mizuho upped their price target on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. The Goldman Sachs Group lifted their price objective on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.22.

Doximity Stock Performance

Shares of DOCS stock traded up $2.53 on Friday, reaching $63.33. The stock had a trading volume of 1,739,015 shares, compared to its average volume of 2,416,378. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The stock has a market cap of $11.82 billion, a P/E ratio of 63.33, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. The company has a 50 day simple moving average of $63.47 and a 200 day simple moving average of $52.31.

Doximity Company 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.