Los Angeles Capital Management LLC Raises Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Los Angeles Capital Management LLC increased its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 33.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 870,322 shares of the company's stock after buying an additional 219,448 shares during the quarter. Los Angeles Capital Management LLC owned about 0.47% of Doximity worth $46,466,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Doximity by 30.5% during 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 period. Lord Abbett & CO. LLC bought a new stake in shares of Doximity during the 3rd quarter valued at about $29,453,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Doximity during the 3rd quarter valued at about $24,691,000. Geode Capital Management LLC grew its stake 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 valued at $124,503,000 after purchasing an additional 472,565 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of Doximity by 254.3% during the 3rd quarter. Retirement Systems of Alabama now owns 534,256 shares of the company's stock valued at $23,278,000 after purchasing an additional 383,480 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DOCS. Raymond James restated an "outperform" rating and set a $83.00 price target (up from $65.00) on shares of Doximity in a research note on Friday, February 7th. Barclays boosted their price target on Doximity from $52.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Bank of America boosted their price target on Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Finally, Morgan Stanley raised Doximity from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Doximity currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

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Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the sale, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 37.40% of the company's stock.

Doximity Stock Up 1.4 %

NASDAQ DOCS traded up $0.99 during trading hours on Friday, reaching $70.44. The company's stock had a trading volume of 2,942,499 shares, compared to its average volume of 2,419,498. The firm's 50-day moving average price is $61.66 and its 200-day moving average price is $50.26. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 70.44, a PEG ratio of 4.10 and a beta of 1.39.

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.