Bridgewater Associates LP Sells 159,201 Shares of Doximity, Inc. (NASDAQ:DOCS)

Bridgewater Associates LP decreased its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 97.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,975 shares of the company's stock after selling 159,201 shares during the period. Bridgewater Associates LP's holdings in Doximity were worth $217,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. FMR LLC grew its stake in Doximity by 30.5% during the third quarter. FMR LLC now owns 6,837,733 shares of the company's stock valued at $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. West Tower Group LLC purchased a new position in Doximity during the third quarter valued at approximately $174,000. Harvest Fund Management Co. Ltd grew its stake in Doximity by 197.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 9,020 shares of the company's stock valued at $393,000 after acquiring an additional 5,984 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Doximity during the third quarter valued at approximately $2,384,000. Finally, Cerity Partners LLC grew its stake in Doximity by 21.4% during the third quarter. Cerity Partners LLC now owns 49,876 shares of the company's stock valued at $2,173,000 after acquiring an additional 8,781 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Stock Performance

NASDAQ:DOCS traded up $0.79 during midday trading on Wednesday, reaching $54.20. 1,264,673 shares of the stock traded hands, compared to its average volume of 1,757,519. The company has a fifty day moving average of $46.10 and a 200 day moving average of $36.39. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $61.75. The stock has a market capitalization of $10.12 billion, a P/E ratio of 62.30, a PEG ratio of 4.28 and a beta of 1.40.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DOCS shares. 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 research note on Thursday, November 14th. Bank of America boosted their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. The Goldman Sachs Group started coverage on shares of Doximity in a research note on Friday, November 15th. They issued a "neutral" rating and a $58.00 price target for the company. Canaccord Genuity Group cut shares of Doximity from a "buy" rating to a "hold" rating and boosted their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, KeyCorp raised shares of Doximity from a "sector weight" rating to an "overweight" rating and set a $70.00 price target for the company in a research note on Friday, November 8th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $52.44.

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.