Bank of New York Mellon Corp Lowers Position in Doximity, Inc. (NASDAQ:DOCS)

Bank of New York Mellon Corp lessened its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,051,777 shares of the company's stock after selling 42,208 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of Doximity worth $56,154,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its holdings in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. lifted its holdings in 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 buying an additional 235 shares during the period. Farther Finance Advisors LLC grew its position in shares of Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after buying an additional 603 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Doximity in the third quarter valued at about $46,000. Finally, IFP Advisors Inc increased its stake in shares of Doximity by 344.1% in the fourth quarter. IFP Advisors Inc now owns 1,328 shares of the company's stock valued at $71,000 after buying an additional 1,029 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

NASDAQ DOCS traded up $1.69 on Wednesday, hitting $69.52. 1,695,354 shares of the stock traded hands, compared to its average volume of 2,464,402. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 69.52, a PEG 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. The business's fifty day moving average is $62.53 and its two-hundred day moving average is $51.31.

Insider Buying and Selling

In other Doximity 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 transaction of $1,152,400.00. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is available through this link. 37.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DOCS has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Leerink Partners raised shares of Doximity from a "market perform" rating to an "outperform" rating and upped their price target for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Barclays lifted their price objective on Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Raymond James restated an "outperform" rating and set a $83.00 target price (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Finally, Canaccord Genuity Group boosted their price target on Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a research note on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

Doximity 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.