Prudential Financial Inc. Reduces Position in Doximity, Inc. (NASDAQ:DOCS)

Prudential Financial Inc. reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 39.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,803 shares of the company's stock after selling 12,465 shares during the quarter. Prudential Financial Inc.'s holdings in Doximity were worth $929,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DOCS. Vanguard Group Inc. boosted its position in shares of Doximity by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after purchasing an additional 485,102 shares in the last quarter. LPL Financial LLC grew its stake in shares of Doximity by 5.5% during the fourth quarter. LPL Financial LLC now owns 75,757 shares of the company's stock worth $4,045,000 after acquiring an additional 3,967 shares during the last quarter. Optimum Investment Advisors purchased a new position in shares of Doximity in the 4th quarter valued at approximately $43,000. KLP Kapitalforvaltning AS purchased a new stake in Doximity during the 4th quarter worth approximately $2,258,000. Finally, AXQ Capital LP acquired a new position in Doximity during the 4th quarter valued at approximately $863,000. Institutional investors own 87.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DOCS shares. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a report on Friday, February 7th. Needham & Company LLC raised their price objective on Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Bank of America upped their target price on Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Finally, Raymond James reissued an "outperform" rating and set a $83.00 price target (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Eleven 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.72.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 37.40% of the company's stock.

Doximity Trading Up 2.5 %

DOCS traded up $1.30 during midday trading on Friday, hitting $52.87. 2,195,590 shares of the company traded hands, compared to its average volume of 1,977,462. The business has a 50 day simple moving average of $64.74 and a two-hundred day simple moving average of $55.49. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 4.10 and a beta of 1.41.

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.