Emergence GP Partners LLC Has $31.03 Million Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Emergence GP Partners LLC lowered its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 25.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 581,250 shares of the company's stock after selling 193,750 shares during the period. Doximity comprises approximately 11.4% of Emergence GP Partners LLC's holdings, making the stock its 2nd largest position. Emergence GP Partners LLC owned 0.31% of Doximity worth $31,033,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DOCS. FMR LLC boosted its stake in shares of Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after acquiring an additional 2,571,580 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Doximity by 708.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock worth $80,641,000 after purchasing an additional 1,323,634 shares during the period. Invesco Ltd. boosted its stake in Doximity by 525.1% in the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock worth $67,934,000 after purchasing an additional 1,068,849 shares during the period. Franklin Resources Inc. grew its holdings in Doximity by 1,178.3% during the 4th quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock valued at $56,711,000 after buying an additional 979,113 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Doximity during the third quarter valued at approximately $29,453,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Buying and Selling

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction 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 transaction, the director now owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 37.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DOCS shares. Raymond James reaffirmed an "outperform" rating and set a $83.00 target price (up from $65.00) on shares of Doximity in a research note on Friday, February 7th. The Goldman Sachs Group raised their price objective on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Needham & Company LLC boosted their target price on Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Mizuho increased their price target on Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $60.00 to $90.00 in a report on Friday, February 7th. Eleven investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.00.

Doximity Stock Up 0.6 %

DOCS stock traded up $0.32 during trading on Friday, hitting $53.10. The company had a trading volume of 1,941,624 shares, compared to its average volume of 1,985,039. The firm has a market capitalization of $9.91 billion, a P/E ratio of 53.10, a PEG ratio of 4.10 and a beta of 1.41. The company has a 50 day simple moving average of $62.97 and a 200-day simple moving average of $55.83. Doximity, Inc. has a 52-week low of $22.96 and a 52-week 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.