KLP Kapitalforvaltning AS Makes New $2.26 Million Investment in Doximity, Inc. (NASDAQ:DOCS)

KLP Kapitalforvaltning AS purchased a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 42,300 shares of the company's stock, valued at approximately $2,258,000.

Several other hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB increased its holdings in shares of Doximity by 0.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company's stock valued at $1,586,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. grew its stake in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after buying an additional 235 shares during the last quarter. Fielder Capital Group LLC grew its stake in Doximity by 4.5% in the 4th quarter. Fielder Capital Group LLC now owns 5,488 shares of the company's stock valued at $293,000 after buying an additional 235 shares during the last quarter. Larson Financial Group LLC raised its holdings in Doximity by 49.4% in the 4th 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 period. Finally, GAMMA Investing LLC lifted its position in Doximity by 20.6% during the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company's stock worth $93,000 after acquiring an additional 296 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction on 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 transaction, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.40% of the stock is currently owned by insiders.

Remove Ads

Doximity Stock Down 2.3 %

DOCS traded down $1.36 during midday trading on Tuesday, hitting $56.67. The company had a trading volume of 1,891,670 shares, compared to its average volume of 1,942,192. The stock's 50 day moving average price is $65.59 and its 200 day moving average price is $54.81. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. 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 1.34.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. 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 note on Friday, February 7th. The Goldman Sachs Group lifted their target price on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. KeyCorp decreased their price target on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Canaccord Genuity Group lifted their price objective on shares of Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Finally, Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $60.00 to $90.00 in a research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.22.

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.