CIBC Asset Management Inc Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

CIBC Asset Management Inc bought a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,799 shares of the company's stock, valued at approximately $203,000.

Several other hedge funds have also bought and sold shares of DOCS. UMB Bank n.a. lifted its stake in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after purchasing an additional 235 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after acquiring an additional 603 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Doximity during the 3rd quarter valued at about $46,000. Covestor Ltd boosted its position in Doximity by 441.9% during the 3rd quarter. Covestor Ltd now owns 1,680 shares of the company's stock valued at $73,000 after acquiring an additional 1,370 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Doximity by 20.6% in the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company's stock worth $93,000 after purchasing an additional 296 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Up 1.4 %

NASDAQ:DOCS traded up $0.99 on Friday, hitting $70.44. The stock had a trading volume of 2,942,499 shares, compared to its average volume of 2,419,498. The business's 50-day simple moving average is $61.91 and its two-hundred day simple moving average is $50.61. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 70.44, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on DOCS. Barclays upped their price target on Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Bank of America increased their target price on Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their price target on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. 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 equities 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 company's stock. Based on data from MarketBeat, Doximity presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, 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 the SEC website. Company insiders own 37.40% of the company's stock.

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.