Franklin Resources Inc. Boosts Holdings in Doximity, Inc. (NASDAQ:DOCS)

Franklin Resources Inc. grew its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 1,178.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,062,211 shares of the company's stock after acquiring an additional 979,113 shares during the quarter. Franklin Resources Inc. owned 0.57% of Doximity worth $56,711,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DOCS. QSV Equity Investors LLC lifted its position in Doximity by 0.3% in the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock valued at $3,244,000 after purchasing an additional 186 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Doximity by 0.7% during the 4th quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company's stock valued at $1,586,000 after buying an additional 200 shares during the period. UMB Bank n.a. grew its holdings in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after acquiring an additional 235 shares during the last quarter. Fielder Capital Group LLC increased its position in shares of Doximity by 4.5% in the fourth quarter. Fielder Capital Group LLC now owns 5,488 shares of the company's stock valued at $293,000 after acquiring an additional 235 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after acquiring an additional 250 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Activity at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value 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 approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Piper Sandler raised shares of Doximity from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Mizuho boosted their price target on shares of Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. KeyCorp lowered their price objective on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $60.00 to $90.00 in a report on Friday, February 7th. Eleven 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 company. According to MarketBeat.com, Doximity presently has an average rating of "Moderate Buy" and an average price target of $64.22.

Doximity Trading Up 2.8 %

DOCS traded up $1.49 on Tuesday, hitting $53.88. 689,484 shares of the company were exchanged, compared to its average volume of 1,954,600. The firm has a 50-day moving average price of $65.43 and a two-hundred day moving average price of $55.21. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 53.74, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

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.