Lord Abbett & CO. LLC Sells 21,437 Shares of Doximity, Inc. (NASDAQ:DOCS)

Lord Abbett & CO. LLC reduced its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 654,563 shares of the company's stock after selling 21,437 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.35% of Doximity worth $34,947,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DOCS. Vanguard Group Inc. lifted its position in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after acquiring an additional 485,102 shares during the period. FMR LLC lifted its position in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after acquiring an additional 2,571,580 shares during the period. Geode Capital Management LLC lifted its position in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after acquiring an additional 95,458 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of Doximity by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock valued at $124,644,000 after acquiring an additional 62,366 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock valued at $98,649,000 after acquiring an additional 164,200 shares during the period. 87.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DOCS shares. Raymond James reiterated an "outperform" rating and set a $83.00 target price (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Truist Financial lowered their price objective on shares of Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Bank of America upped their price objective on shares of Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Leerink Partners upgraded shares of 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. Finally, Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $31.00 to $78.00 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.39.

Doximity Stock Up 0.2 %

DOCS traded up $0.10 during trading on Monday, hitting $56.75. 1,281,408 shares of the company traded hands, compared to its average volume of 1,990,038. The firm has a market cap of $10.59 billion, a P/E ratio of 56.75, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The stock's fifty day moving average is $60.30 and its 200 day moving average is $56.37. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated 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 transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. 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 company insiders.

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.