Canada Pension Plan Investment Board Boosts Position in Doximity, Inc. (NASDAQ:DOCS)

Canada Pension Plan Investment Board raised its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 199.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,000 shares of the company's stock after purchasing an additional 81,300 shares during the period. Canada Pension Plan Investment Board owned 0.07% of Doximity worth $6,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Global Retirement Partners LLC boosted its holdings in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after acquiring an additional 440 shares in the last quarter. UMB Bank n.a. boosted its position in Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after acquiring an additional 235 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after acquiring an additional 250 shares during the period. Optimum Investment Advisors bought a new position in shares of Doximity in the 4th quarter worth approximately $43,000. Finally, Morse Asset Management Inc purchased a new position in shares of Doximity in the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on 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 directly owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.40% of the stock is currently owned by corporate insiders.

Doximity Stock Up 0.7 %

NASDAQ DOCS traded up $0.38 during trading hours on Friday, reaching $56.67. The company's stock had a trading volume of 1,364,010 shares, compared to its average volume of 1,989,351. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The firm's 50-day moving average price is $61.12 and its 200-day moving average price is $56.02. The company 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.

Analyst Ratings Changes

Several brokerages have commented on DOCS. Truist Financial lowered their price objective on Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Mizuho lifted their price target on shares of Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Needham & Company LLC raised their target price 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. Canaccord Genuity Group boosted their price target on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Finally, Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $31.00 to $78.00 in a research report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Doximity has a consensus rating of "Moderate Buy" and an average price target of $65.39.

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.