Principal Financial Group Inc. Reduces Holdings in Doximity, Inc. (NASDAQ:DOCS)

Principal Financial Group Inc. trimmed its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 28.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,692 shares of the company's stock after selling 117,107 shares during the period. Principal Financial Group Inc. owned about 0.16% of Doximity worth $12,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock worth $34,000 after purchasing an additional 603 shares in the last quarter. Quarry LP boosted its holdings in Doximity by 101.2% during the second quarter. Quarry LP now owns 1,616 shares of the company's stock worth $45,000 after buying an additional 131,253 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Doximity during the third quarter valued at $46,000. GAMMA Investing LLC increased its holdings in Doximity by 40.1% in the third quarter. GAMMA Investing LLC now owns 1,439 shares of the company's stock valued at $63,000 after buying an additional 412 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Doximity by 19.7% in the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company's stock worth $72,000 after acquiring an additional 427 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Stock Performance

Shares of DOCS stock traded down $0.64 during trading hours on Friday, reaching $57.78. The company had a trading volume of 1,601,881 shares, compared to its average volume of 1,780,862. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $61.75. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 4.16 and a beta of 1.40. The stock has a fifty day moving average of $50.59 and a 200-day moving average of $39.94.

Analyst Ratings Changes

DOCS has been the topic of a number of analyst reports. Raymond James restated an "outperform" rating and set a $65.00 target price (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. Morgan Stanley raised Doximity from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $33.00 to $53.00 in a report on Thursday, November 14th. Barclays upped their target price on Doximity from $52.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Canaccord Genuity Group cut shares of Doximity from a "buy" rating to a "hold" rating and lifted their price target for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Doximity in a report on Friday, November 15th. They issued a "neutral" rating and a $58.00 price target for the company. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $52.59.

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.