Retirement Systems of Alabama Has $23.28 Million Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Retirement Systems of Alabama grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 254.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 534,256 shares of the company's stock after acquiring an additional 383,480 shares during the quarter. Retirement Systems of Alabama owned about 0.29% of Doximity worth $23,278,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Doximity by 29.6% during the second quarter. SG Americas Securities LLC now owns 16,033 shares of the company's stock worth $448,000 after buying an additional 3,659 shares during the period. Blue Trust Inc. increased its position in Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company's stock worth $37,000 after purchasing an additional 1,193 shares during the period. Nisa Investment Advisors LLC lifted its stake 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 buying an additional 11,000 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Doximity by 80.0% in the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company's stock valued at $48,000 after purchasing an additional 760 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Doximity by 181.6% in the second quarter. Fifth Third Bancorp now owns 3,207 shares of the company's stock valued at $90,000 after purchasing an additional 2,068 shares during the period. 87.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DOCS shares. Mizuho began coverage on shares of Doximity in a report on Wednesday, December 4th. They issued a "neutral" rating and a $55.00 price target for the company. Baird R W upgraded shares of Doximity to a "strong-buy" rating in a report on Tuesday, September 17th. Morgan Stanley raised Doximity from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $33.00 to $53.00 in a report on Thursday, November 14th. Raymond James reissued an "outperform" rating and issued a $65.00 price objective (up previously from $37.00) on shares of Doximity in a research report on Friday, November 8th. Finally, Bank of America upped their price objective on shares of Doximity from $32.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $52.44.

Doximity Price Performance

NASDAQ:DOCS traded down $0.56 during mid-day trading on Friday, hitting $52.14. The company's stock had a trading volume of 1,467,088 shares, compared to its average volume of 1,750,562. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 59.93, a PEG ratio of 4.16 and a beta of 1.40. The business's fifty day moving average is $48.05 and its two-hundred day moving average is $37.94. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75.

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.