New York State Teachers Retirement System Boosts Holdings in Doximity, Inc. (NASDAQ:DOCS)

New York State Teachers Retirement System raised its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,067 shares of the company's stock after buying an additional 8,934 shares during the period. New York State Teachers Retirement System owned about 0.05% of Doximity worth $5,449,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DOCS. FMR LLC boosted its position in shares of Doximity by 30.5% during the third quarter. FMR LLC now owns 6,837,733 shares of the company's stock valued at $297,920,000 after buying an additional 1,598,602 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Doximity in the third quarter valued at approximately $29,453,000. Los Angeles Capital Management LLC boosted its holdings in shares of Doximity by 6,242.6% in the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company's stock valued at $28,359,000 after purchasing an additional 640,612 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Doximity in the third quarter valued at approximately $24,691,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Doximity by 19.8% in the third 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. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Trading Down 3.7 %

Shares of DOCS stock traded down $2.75 during trading hours on Friday, reaching $72.25. 3,202,946 shares of the company's stock were exchanged, compared to its average volume of 2,419,548. The stock's 50 day moving average is $59.79 and its 200-day moving average is $48.73. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 72.25, a P/E/G ratio of 4.20 and a beta of 1.39. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $85.21.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 of the company's stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DOCS has been the subject of a number of research reports. Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $60.00 to $90.00 in a report on Friday, February 7th. Stephens initiated coverage on Doximity in a report on Friday, December 20th. They issued an "equal weight" rating and a $55.00 price target for the company. The Goldman Sachs Group boosted their price target on Doximity from $58.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Canaccord Genuity Group boosted their price target on Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a report on Friday, February 7th. Finally, Needham & Company LLC boosted their price objective on shares of Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

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.