Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 28.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 289,692 shares of the company's stock after selling 117,107 shares during the quarter. Principal Financial Group Inc. owned about 0.16% of Doximity worth $12,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DOCS. Blair William & Co. IL raised its position in Doximity by 31.7% in the 1st quarter. Blair William & Co. IL now owns 90,600 shares of the company's stock valued at $2,438,000 after purchasing an additional 21,787 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Doximity by 1,824.5% during the second quarter. Federated Hermes Inc. now owns 279,634 shares of the company's stock worth $7,821,000 after buying an additional 265,104 shares during the period. AXA S.A. boosted its stake in shares of Doximity by 40.2% during the second quarter. AXA S.A. now owns 216,392 shares of the company's stock worth $6,052,000 after buying an additional 61,992 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Doximity by 128.7% during the first quarter. Acadian Asset Management LLC now owns 96,442 shares of the company's stock worth $2,590,000 after buying an additional 54,281 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Doximity by 15,714.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company's stock valued at $310,000 after acquiring an additional 11,000 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Stock Performance

DOCS opened at $49.40 on Friday. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 4.51 and a beta of 1.30. Doximity, Inc. has a one year low of $22.96 and a one year high of $61.75. The business's fifty day moving average is $43.40 and its two-hundred day moving average is $34.18.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Canaccord Genuity Group downgraded Doximity from a "buy" rating to a "hold" rating and lifted their target price for the company from $40.00 to $60.00 in a research note on Wednesday. Bank of America lifted their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, August 19th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $60.00 target price (up previously from $40.00) on shares of Doximity in a report on Wednesday. Finally, Baird R W raised shares of Doximity to a "strong-buy" rating in a report on Tuesday, September 17th. Eleven equities research 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $51.07.

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.