Aquatic Capital Management LLC Sells 41,248 Shares of Doximity, Inc. (NASDAQ:DOCS)

Aquatic Capital Management LLC lowered its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 38.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,952 shares of the company's stock after selling 41,248 shares during the period. Aquatic Capital Management LLC's holdings in Doximity were worth $3,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DOCS. Vanguard Group Inc. increased its position in shares of Doximity by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after buying an additional 485,102 shares during the period. FMR LLC raised its position in shares of Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after acquiring an additional 2,571,580 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Doximity by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after purchasing an additional 95,458 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Doximity by 2.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock valued at $124,644,000 after purchasing an additional 62,366 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Doximity by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after purchasing an additional 164,200 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now owns 6,360 shares of the company's stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler upgraded shares of 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. Leerink Partnrs raised shares of Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Leerink Partners raised shares of Doximity from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $90.00 in a research note on Friday, February 7th. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Finally, The Goldman Sachs Group raised their price objective on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Eleven investment 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 stock. According to MarketBeat, Doximity presently has an average rating of "Moderate Buy" and a consensus price target of $65.39.

Doximity Price Performance

NASDAQ DOCS opened at $56.67 on Monday. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 56.67, a PEG ratio of 4.10 and a beta of 1.41. The business's fifty day moving average price is $60.70 and its 200-day moving average price is $56.28.

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.

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