Renaissance Technologies LLC Buys 164,200 Shares of Doximity, Inc. (NASDAQ:DOCS)

Renaissance Technologies LLC boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,847,702 shares of the company's stock after purchasing an additional 164,200 shares during the quarter. Renaissance Technologies LLC owned about 0.99% of Doximity worth $98,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCS. Invesco Ltd. grew its stake in shares of Doximity by 525.1% in the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock worth $67,934,000 after acquiring an additional 1,068,849 shares during the last quarter. Bank of Montreal Can boosted its holdings in Doximity by 236.4% in the 4th quarter. Bank of Montreal Can now owns 72,112 shares of the company's stock valued at $3,850,000 after purchasing an additional 50,676 shares during the period. FMR LLC grew its position in Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after purchasing an additional 2,571,580 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Doximity by 8.4% during the 4th quarter. Federated Hermes Inc. now owns 256,549 shares of the company's stock worth $13,697,000 after purchasing an additional 19,861 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Doximity by 83.6% during the fourth quarter. Russell Investments Group Ltd. now owns 53,522 shares of the company's stock valued at $2,858,000 after buying an additional 24,375 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm's stock in a transaction 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 sale, the director now owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 37.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. KeyCorp cut their price target on Doximity from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Raymond James restated an "outperform" rating and issued a $83.00 price target (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Truist Financial decreased their target price on Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a report on Thursday. Mizuho raised their price target on shares of Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, Canaccord Genuity Group upped their price objective on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.72.

Doximity Stock Performance

NASDAQ:DOCS traded up $0.25 during trading hours on Monday, hitting $53.10. The stock had a trading volume of 468,139 shares, compared to its average volume of 1,973,974. The business's 50 day moving average is $64.74 and its 200-day moving average is $55.58. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 53.10, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

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.