First Trust Advisors LP Grows Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

First Trust Advisors LP lifted its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 57.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 844,500 shares of the company's stock after purchasing an additional 308,870 shares during the period. First Trust Advisors LP owned about 0.45% of Doximity worth $45,088,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC purchased a new stake in Doximity during the fourth quarter valued at approximately $502,000. Canada Pension Plan Investment Board lifted its holdings in shares of Doximity by 199.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 122,000 shares of the company's stock valued at $6,514,000 after purchasing an additional 81,300 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Doximity during the 4th quarter valued at $3,143,000. Zacks Investment Management acquired a new stake in shares of Doximity in the 4th quarter worth $1,984,000. Finally, EAM Global Investors LLC purchased a new position in Doximity during the 4th quarter worth $5,326,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James restated an "outperform" rating and issued a $83.00 target price (up previously from $65.00) on shares of Doximity in a research note on Friday, February 7th. Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Bank of America upped their target price on Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Leerink Partnrs raised shares of Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Doximity in a report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Doximity has an average rating of "Moderate Buy" and a consensus price target of $65.39.

Doximity Price Performance

Shares of DOCS traded up $0.38 during midday trading on Friday, reaching $56.67. 1,364,010 shares of the stock were exchanged, compared to its average volume of 1,992,882. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of 56.67, a PEG ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The business's 50-day moving average price is $60.70 and its 200 day moving average price is $56.19.

Insider Buying and Selling at Doximity

In related 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 completion of the sale, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.40% of the stock is owned by company insiders.

Doximity Company 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.