California Public Employees Retirement System Sells 8,360 Shares of Doximity, Inc. (NASDAQ:DOCS)

California Public Employees Retirement System lessened its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,780 shares of the company's stock after selling 8,360 shares during the period. California Public Employees Retirement System owned 0.12% of Doximity worth $11,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DOCS. Arrowstreet Capital Limited Partnership raised its holdings in shares of Doximity by 708.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock valued at $80,641,000 after buying an additional 1,323,634 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Doximity during the third quarter valued at approximately $29,453,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Doximity during the third quarter valued at approximately $24,691,000. Vanguard Group Inc. increased its stake 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 acquiring an additional 485,102 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 472,565 shares during the period. Institutional investors own 87.19% of the company's stock.

Wall Street Analyst Weigh In

DOCS has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price objective on shares of Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a research note on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Needham & Company LLC raised their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, February 7th. KeyCorp lowered their price objective on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $60.00 to $90.00 in a research note on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Doximity has an average rating of "Moderate Buy" and a consensus price target of $64.72.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction 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 owns 6,360 shares of the company's stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.40% of the stock is owned by company insiders.

Doximity Stock Down 5.8 %

Shares of NASDAQ:DOCS traded down $3.25 during trading on Thursday, reaching $52.35. 399,478 shares of the company traded hands, compared to its average volume of 1,960,184. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21. The firm has a fifty day simple moving average of $65.02 and a 200 day simple moving average of $55.34. The firm has a market cap of $9.77 billion, a P/E ratio of 52.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

About Doximity

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.