Penserra Capital Management LLC Buys New Stake in Doximity, Inc. (NASDAQ:DOCS)

Penserra Capital Management LLC acquired a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 54,732 shares of the company's stock, valued at approximately $2,384,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cerity Partners LLC boosted its position in shares of Doximity by 21.4% in the 3rd quarter. Cerity Partners LLC now owns 49,876 shares of the company's stock worth $2,173,000 after purchasing an additional 8,781 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Doximity by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,001 shares of the company's stock worth $32,808,000 after purchasing an additional 31,966 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Doximity in the 3rd quarter worth $647,000. First Horizon Advisors Inc. boosted its position in shares of Doximity by 22.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company's stock worth $91,000 after purchasing an additional 384 shares in the last quarter. Finally, Commerce Bank acquired a new stake in Doximity during the 3rd quarter worth about $314,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DOCS shares. Robert W. Baird lifted their price objective on Doximity from $41.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, September 17th. Morgan Stanley upgraded Doximity from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. Wells Fargo & Company upgraded Doximity from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $19.00 to $41.00 in a research note on Friday, November 8th. The Goldman Sachs Group initiated coverage on Doximity in a report on Friday, November 15th. They set a "neutral" rating and a $58.00 target price on the stock. Finally, Bank of America boosted their target price on Doximity from $32.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $52.27.

Doximity Stock Performance

Shares of Doximity stock traded up $4.78 during trading hours on Tuesday, reaching $53.54. 3,564,513 shares of the company were exchanged, compared to its average volume of 1,758,369. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75. The stock's fifty day moving average is $44.83 and its 200 day moving average is $35.34. The firm has a market cap of $9.99 billion, a PE ratio of 60.95, a PEG ratio of 3.91 and a beta of 1.30.

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.