MetLife Investment Management LLC Grows Stock Position in Doximity, Inc. (NASDAQ:DOCS)

MetLife Investment Management LLC boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,540 shares of the company's stock after buying an additional 7,476 shares during the period. MetLife Investment Management LLC's holdings in Doximity were worth $3,873,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Doximity during the fourth quarter worth approximately $169,000. Dimensional Fund Advisors LP grew its position in Doximity by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,576,455 shares of the company's stock worth $84,167,000 after acquiring an additional 63,815 shares during the last quarter. First Trust Advisors LP increased its holdings in Doximity by 57.7% during the 4th quarter. First Trust Advisors LP now owns 844,500 shares of the company's stock valued at $45,088,000 after purchasing an additional 308,870 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in Doximity in the 4th quarter valued at $502,000. Finally, Canada Pension Plan Investment Board boosted its stake in Doximity by 199.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 122,000 shares of the company's stock worth $6,514,000 after purchasing an additional 81,300 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 37.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC upped their price target on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Raymond James reiterated an "outperform" rating and issued a $83.00 target price (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Leerink Partners raised shares of Doximity from a "market perform" rating to an "outperform" rating and increased their target price for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Finally, Canaccord Genuity Group upped their target price on Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.39.

Doximity Stock Performance

Shares of Doximity stock traded up $0.10 during mid-day trading on Monday, hitting $56.75. 1,281,408 shares of the stock were exchanged, compared to its average volume of 1,990,038. The company has a market capitalization of $10.59 billion, a P/E ratio of 56.75, a P/E/G ratio of 4.10 and a beta of 1.41. The company has a 50-day simple moving average of $60.30 and a 200 day simple moving average of $56.37. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21.

Doximity Company 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.