Norges Bank Invests $4.37 Million in Doximity, Inc. (NASDAQ:DOCS)

Norges Bank bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 81,811 shares of the company's stock, valued at approximately $4,368,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lord Abbett & CO. LLC acquired a new position in Doximity during the third quarter valued at approximately $29,453,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Doximity during the 3rd quarter valued at $24,691,000. Vanguard Group Inc. lifted its holdings in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after acquiring an additional 485,102 shares in the last quarter. Geode Capital Management LLC boosted its position in Doximity by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock worth $124,503,000 after purchasing an additional 472,565 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in Doximity by 254.3% in 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 in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on DOCS shares. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Mizuho boosted their price target on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Raymond James reaffirmed an "outperform" rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Stephens assumed coverage on shares of Doximity in a research report on Friday, December 20th. They set an "equal weight" rating and a $55.00 target price on the stock. Finally, Canaccord Genuity Group raised their price target on shares of Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Doximity has a consensus rating of "Moderate Buy" and an average price target of $64.72.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the 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 sale, the director now directly owns 6,360 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is available at the SEC website. 37.40% of the stock is currently owned by company insiders.

Doximity Stock Up 0.9 %

Shares of DOCS traded up $0.46 during mid-day trading on Tuesday, hitting $53.06. The stock had a trading volume of 268,937 shares, compared to its average volume of 1,973,571. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $85.21. The company has a market cap of $9.91 billion, a PE ratio of 53.06, a PEG ratio of 4.10 and a beta of 1.41. The company's fifty day simple moving average is $64.63 and its two-hundred day simple moving average is $55.65.

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.