Sand Hill Global Advisors LLC Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Sand Hill Global Advisors LLC purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 63,013 shares of the company's stock, valued at approximately $3,364,000.

Several other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Doximity by 9.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after purchasing an additional 164,200 shares during the period. Invesco Ltd. lifted its stake in shares of Doximity by 525.1% during the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after buying an additional 1,068,849 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Doximity by 236.4% during the 4th quarter. Bank of Montreal Can now owns 72,112 shares of the company's stock valued at $3,850,000 after buying an additional 50,676 shares in the last quarter. FMR LLC boosted its holdings 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 buying an additional 2,571,580 shares during the period. Finally, Federated Hermes Inc. grew its stake in Doximity by 8.4% in the 4th quarter. Federated Hermes Inc. now owns 256,549 shares of the company's stock valued at $13,697,000 after buying an additional 19,861 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Stock Performance

DOCS traded up $1.30 during midday trading on Friday, hitting $52.87. The stock had a trading volume of 2,195,590 shares, compared to its average volume of 1,979,844. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The business has a fifty day moving average of $64.74 and a 200 day moving average of $55.58. The company has a market cap of $9.87 billion, a P/E ratio of 52.87, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the business's 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 37.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on DOCS. The Goldman Sachs Group increased their target price on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Truist Financial cut their target price on Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research note on Thursday. Leerink Partnrs upgraded Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $31.00 to $78.00 in a research report on Friday, February 7th. Finally, Needham & Company LLC boosted their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Doximity has an average rating of "Moderate Buy" and a consensus price target of $64.72.

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.