Raymond James Financial Inc. Buys Shares of 174,092 Doximity, Inc. (NASDAQ:DOCS)

Raymond James Financial Inc. purchased a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 174,092 shares of the company's stock, valued at approximately $9,295,000. Raymond James Financial Inc. owned approximately 0.09% of Doximity as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in DOCS. FMR LLC lifted its holdings in shares of Doximity by 30.5% in the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company's stock worth $297,920,000 after purchasing an additional 1,598,602 shares in the last quarter. State Street Corp raised its stake in shares of Doximity by 2.5% during the 3rd quarter. State Street Corp now owns 3,693,982 shares of the company's stock worth $160,947,000 after purchasing an additional 88,922 shares during the period. Geode Capital Management LLC boosted its stake in Doximity by 19.8% in the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock valued at $124,503,000 after acquiring an additional 472,565 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Doximity by 33.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 870,322 shares of the company's stock valued at $46,466,000 after purchasing an additional 219,448 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Doximity by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,524 shares of the company's stock valued at $41,565,000 after buying an additional 25,523 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

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Doximity Stock Performance

Shares of NASDAQ DOCS traded down $0.34 during mid-day trading on Tuesday, hitting $66.00. 2,141,098 shares of the stock traded hands, compared to its average volume of 1,891,339. The stock has a fifty day moving average price of $64.76 and a 200-day moving average price of $53.85. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 66.00, a PEG ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21.

Insiders Place Their Bets

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 completion of the sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DOCS shares. Mizuho raised their price target on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Bank of America raised their price objective on shares of Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Leerink Partners raised 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 research note on Friday, February 7th. Finally, 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. Eleven research 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's stock. According to MarketBeat.com, the company 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.