Cerity Partners LLC Trims Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Cerity Partners LLC lessened its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,291 shares of the company's stock after selling 15,585 shares during the period. Cerity Partners LLC's holdings in Doximity were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new position in shares of Doximity during the 3rd quarter valued at about $46,000. Orion Portfolio Solutions LLC purchased a new position in Doximity during the third quarter valued at approximately $260,000. Barclays PLC lifted its holdings in Doximity by 60.5% in the third quarter. Barclays PLC now owns 53,401 shares of the company's stock valued at $2,327,000 after acquiring an additional 20,125 shares during the period. M&T Bank Corp purchased a new stake in Doximity in the 3rd quarter worth approximately $351,000. Finally, Geode Capital Management LLC grew its stake in shares of Doximity by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock worth $124,503,000 after purchasing an additional 472,565 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 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. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DOCS. Bank of America boosted their target price on shares of Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Needham & Company LLC increased their target price on shares of Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Truist Financial dropped their target price on Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a report on Friday, February 7th. Finally, Mizuho raised their price objective on Doximity from $55.00 to $65.00 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 given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Doximity Price Performance

DOCS traded up $1.08 on Tuesday, reaching $52.36. 1,505,867 shares of the company's stock were exchanged, compared to its average volume of 1,986,662. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The stock has a market cap of $9.78 billion, a PE ratio of 52.36, a P/E/G ratio of 4.10 and a beta of 1.41. The stock's fifty day moving average price is $62.00 and its 200-day moving average price is $55.94.

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.