Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,121,344 shares of the company's stock after selling 198,872 shares during the quarter. Clearbridge Investments LLC owned about 2.74% of Doximity worth $273,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOCS. Global Retirement Partners LLC increased its position in shares of Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares during the last quarter. UMB Bank n.a. boosted its stake in Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after buying an additional 235 shares during the period. Larson Financial Group LLC boosted its stake in Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the period. Optimum Investment Advisors purchased a new stake in shares of Doximity in the fourth quarter valued at $43,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Doximity in the third quarter valued at $46,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Trading Up 2.2 %

Shares of DOCS stock traded up $1.24 during trading hours on Wednesday, hitting $57.96. The company's stock had a trading volume of 1,819,482 shares, compared to its average volume of 1,941,707. The company has a 50 day moving average of $65.59 and a 200 day moving average of $54.81. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21. The stock has a market cap of $10.82 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34.

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Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOCS. Bank of America increased their price objective on shares of Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and upped their target price for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Needham & Company LLC boosted their price objective on Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Mizuho increased their target price on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.22.

Insider Buying and Selling at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity 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 in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.40% of the stock is owned by corporate insiders.

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.