Baillie Gifford & Co. Cuts Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Baillie Gifford & Co. cut its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,943,742 shares of the company's stock after selling 415,493 shares during the period. Baillie Gifford & Co. owned approximately 2.65% of Doximity worth $263,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DOCS. UMB Bank n.a. increased its stake in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after purchasing an additional 235 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Doximity by 20.6% in the 4th quarter. GAMMA Investing LLC now owns 1,735 shares of the company's stock valued at $93,000 after purchasing an additional 296 shares during the period. MetLife Investment Management LLC raised its position in shares of Doximity by 0.6% during the 3rd quarter. MetLife Investment Management LLC now owns 65,064 shares of the company's stock valued at $2,835,000 after buying an additional 363 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Doximity by 2.6% during the 4th quarter. State of Alaska Department of Revenue now owns 14,610 shares of the company's stock valued at $780,000 after buying an additional 370 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Doximity by 22.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company's stock valued at $91,000 after buying an additional 384 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on DOCS. Wells Fargo & Company lifted their target price on shares of Doximity from $43.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Stephens started coverage on shares of Doximity in a research note on Friday, December 20th. They set an "equal weight" rating and a $55.00 price objective on the stock. Raymond James reissued an "outperform" rating and set a $83.00 price objective (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Truist Financial boosted their price objective on shares of Doximity from $35.00 to $49.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group upped their target price on shares of Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, February 10th. 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.22.

Doximity Price Performance

NASDAQ DOCS traded down $1.58 during trading on Thursday, reaching $75.10. 2,583,597 shares of the company's stock traded hands, compared to its average volume of 2,395,807. The firm has a market cap of $14.02 billion, a price-to-earnings ratio of 75.10, a price-to-earnings-growth ratio of 4.26 and a beta of 1.39. The company's 50 day simple moving average is $59.34 and its two-hundred day simple moving average is $48.55. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21.

Insider Activity

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

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.