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

Franklin Resources Inc. lifted its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 564.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,098 shares of the company's stock after purchasing an additional 70,585 shares during the quarter. Franklin Resources Inc.'s holdings in Doximity were worth $3,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company's stock valued at $297,920,000 after purchasing an additional 1,598,602 shares during the last quarter. William Blair Investment Management LLC grew its position in Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company's stock worth $179,122,000 after acquiring an additional 873,682 shares during the period. Clearbridge Investments LLC grew its position in Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company's stock worth $163,709,000 after acquiring an additional 387,200 shares during the period. State Street Corp raised its position in Doximity by 2.5% in the third quarter. State Street Corp now owns 3,693,982 shares of the company's stock valued at $160,947,000 after purchasing an additional 88,922 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Doximity by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock worth $124,503,000 after purchasing an additional 472,565 shares during the period. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Price Performance

Shares of NASDAQ DOCS traded up $0.09 during midday trading on Wednesday, hitting $58.27. 983,026 shares of the company's stock were exchanged, compared to its average volume of 1,782,577. The firm's fifty day simple moving average is $50.00 and its 200-day simple moving average is $39.47. The company has a market cap of $10.88 billion, a PE ratio of 66.98, a P/E/G ratio of 4.16 and a beta of 1.40. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $61.75.

Analysts Set New Price Targets

A number of research firms have commented on DOCS. Raymond James reaffirmed an "outperform" rating and issued a $65.00 target price (up previously from $37.00) on shares of Doximity in a research report on Friday, November 8th. Evercore ISI upped their price target on Doximity from $34.00 to $45.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 8th. Baird R W upgraded Doximity to a "strong-buy" rating in a report on Tuesday, September 17th. Barclays boosted their price target on shares of Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company upgraded shares of Doximity from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $19.00 to $41.00 in a report on Friday, November 8th. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $52.59.

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.