New York State Common Retirement Fund Acquires 75,119 Shares of Doximity, Inc. (NASDAQ:DOCS)

New York State Common Retirement Fund raised its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 113.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,278 shares of the company's stock after purchasing an additional 75,119 shares during the period. New York State Common Retirement Fund owned 0.08% of Doximity worth $7,543,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in shares of Doximity by 20,421.4% during the fourth quarter. Venturi Wealth Management LLC now owns 5,746 shares of the company's stock worth $307,000 after buying an additional 5,718 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Doximity by 15.1% during the 4th quarter. D.A. Davidson & CO. now owns 21,209 shares of the company's stock worth $1,132,000 after acquiring an additional 2,786 shares during the last quarter. Truist Financial Corp bought a new stake in Doximity during the fourth quarter worth $307,000. CIBC Asset Management Inc bought a new position in shares of Doximity during the 4th quarter valued at approximately $203,000. Finally, Sanctuary Advisors LLC grew its stake in shares of Doximity by 10.2% during the 4th quarter. Sanctuary Advisors LLC now owns 7,251 shares of the company's stock worth $428,000 after acquiring an additional 672 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.40% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several research analysts have commented on DOCS shares. Bank of America raised their target price on Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Morgan Stanley upgraded Doximity from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th. Mizuho boosted their target price on Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Needham & Company LLC increased their price target on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.22.

Doximity Trading Up 1.4 %

Doximity stock traded up $0.99 during trading on Friday, hitting $70.44. The company had a trading volume of 2,942,499 shares, compared to its average volume of 2,419,498. The company's 50 day simple moving average is $61.91 and its 200-day simple moving average is $50.61. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 70.44, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39.

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.