Clearbridge Investments LLC Trims Position in Doximity, Inc. (NASDAQ:DOCS)

Clearbridge Investments LLC lowered its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,121,344 shares of the company's stock after selling 198,872 shares during the period. Clearbridge Investments LLC owned about 2.74% of Doximity worth $273,429,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DOCS. Shaker Investments LLC OH acquired a new stake in shares of Doximity in the fourth quarter valued at approximately $559,000. Principal Financial Group Inc. raised its position in Doximity by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock valued at $15,695,000 after purchasing an additional 4,282 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Doximity during the 4th quarter worth $362,000. Stratos Wealth Partners LTD. acquired a new stake in Doximity during the 4th quarter worth $203,000. Finally, Barclays PLC grew its position in Doximity by 60.5% during the 3rd quarter. Barclays PLC now owns 53,401 shares of the company's stock worth $2,327,000 after purchasing an additional 20,125 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the business's stock in a transaction 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 transaction, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 37.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. KeyCorp decreased their target price on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Leerink Partnrs upgraded Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Bank of America upped their price target on Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Raymond James reiterated an "outperform" rating and issued a $83.00 price objective (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Finally, Stephens started coverage on shares of Doximity in a research report on Friday, December 20th. They set an "equal weight" rating and a $55.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity currently has an average rating of "Moderate Buy" and a consensus target price of $64.22.

Doximity Price Performance

Shares of NASDAQ DOCS traded down $2.73 on Thursday, hitting $55.22. The company's stock had a trading volume of 1,360,672 shares, compared to its average volume of 1,938,608. The stock has a 50 day moving average of $65.63 and a 200-day moving average of $54.84. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 55.22, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21.

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.