Plato Investment Management Ltd Purchases New Shares in Doximity, Inc. (NASDAQ:DOCS)

Plato Investment Management Ltd acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,871 shares of the company's stock, valued at approximately $207,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Doximity in the 4th quarter valued at about $4,207,000. West Michigan Advisors LLC purchased a new stake in Doximity during the fourth quarter valued at approximately $306,000. US Bancorp DE boosted its stake in Doximity by 7.8% in the fourth quarter. US Bancorp DE now owns 11,285 shares of the company's stock valued at $603,000 after acquiring an additional 818 shares in the last quarter. Fielder Capital Group LLC grew its holdings in Doximity by 4.5% in the fourth quarter. Fielder Capital Group LLC now owns 5,488 shares of the company's stock worth $293,000 after purchasing an additional 235 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Doximity by 13.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,075 shares of the company's stock worth $1,018,000 after purchasing an additional 2,212 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Price Performance

DOCS stock traded down $1.87 during trading on Friday, hitting $64.09. 1,919,244 shares of the company traded hands, compared to its average volume of 2,433,665. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The stock's 50-day simple moving average is $62.68 and its 200 day simple moving average is $51.41. The company has a market cap of $11.96 billion, a PE ratio of 64.09, a P/E/G ratio of 4.10 and a beta of 1.34.

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Insider Activity

In related 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 filing with the SEC, which is available at this hyperlink. Insiders own 37.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DOCS. Stephens initiated coverage on Doximity in a research report on Friday, December 20th. They issued an "equal weight" rating and a $55.00 price objective for the company. Truist Financial raised their price target on Doximity from $35.00 to $49.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. Leerink Partnrs upgraded shares of Doximity from a "hold" rating to a "strong-buy" rating in a report on Friday, February 7th. Canaccord Genuity Group lifted their target price on shares of Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Finally, Leerink Partners raised shares of Doximity from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $60.00 to $90.00 in a research report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.22.

Doximity 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.