Quantbot Technologies LP Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Quantbot Technologies LP acquired a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 75,327 shares of the company's stock, valued at approximately $4,022,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after buying an additional 440 shares in the last quarter. UMB Bank n.a. increased its holdings in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after purchasing an additional 235 shares in the last quarter. Larson Financial Group LLC increased its holdings in Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after purchasing an additional 250 shares in the last quarter. Farther Finance Advisors LLC raised its position in Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company's stock valued at $34,000 after purchasing an additional 603 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Doximity during the third quarter valued at about $46,000. Institutional investors own 87.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DOCS. Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $60.00 to $90.00 in a report on Friday, February 7th. Raymond James reissued an "outperform" rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a research note on Friday, February 7th. Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Bank of America upped their price target on Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Finally, 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 report on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.22.

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Doximity Stock Performance

Shares of Doximity stock traded up $1.37 during trading hours on Wednesday, reaching $62.68. The company's stock had a trading volume of 1,690,624 shares, compared to its average volume of 1,863,924. The company has a market capitalization of $11.70 billion, a P/E ratio of 62.68, a P/E/G ratio of 4.10 and a beta of 1.34. The stock's fifty day simple moving average is $63.89 and its two-hundred day simple moving average is $53.07. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the sale, the director now directly owns 6,360 shares of the company's stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.40% of the stock is currently owned by company insiders.

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.