State of New Jersey Common Pension Fund D Has $2.36 Million Stake in Doximity, Inc. (NASDAQ:DOCS)

State of New Jersey Common Pension Fund D reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 17.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,137 shares of the company's stock after selling 11,075 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Doximity were worth $2,359,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Doximity in the first quarter worth $91,673,000. Capital World Investors lifted its holdings in shares of Doximity by 250.7% in the first quarter. Capital World Investors now owns 1,714,707 shares of the company's stock valued at $46,143,000 after buying an additional 1,225,707 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company's stock valued at $179,122,000 after buying an additional 873,682 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company's stock valued at $66,594,000 after buying an additional 621,590 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company's stock valued at $163,709,000 after buying an additional 387,200 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Down 1.5 %

Shares of DOCS stock traded down $0.81 during mid-day trading on Thursday, reaching $52.05. The stock had a trading volume of 2,218,890 shares, compared to its average volume of 1,733,846. The firm's 50 day simple moving average is $42.81 and its 200 day simple moving average is $33.81. Doximity, Inc. has a one year low of $22.96 and a one year high of $61.75. The firm has a market cap of $9.66 billion, a PE ratio of 60.38, a P/E/G ratio of 5.08 and a beta of 1.30.

Analysts Set New Price Targets

Several analysts have recently weighed in on DOCS shares. Morgan Stanley upgraded Doximity from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $33.00 to $53.00 in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Doximity from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Evercore ISI increased their price objective on Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 8th. Needham & Company LLC raised Doximity from a "hold" rating to a "buy" rating and set a $38.00 price objective for the company in a research note on Friday, August 9th. Finally, Barclays increased their price objective on Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $50.57.

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.