SBI Securities Co. Ltd. Makes New $4.21 Million Investment in Doximity, Inc. (NASDAQ:DOCS)

SBI Securities Co. Ltd. bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,806 shares of the company's stock, valued at approximately $4,207,000.

Other hedge funds also recently made changes to their positions in the company. Shaker Investments LLC OH bought a new position in shares of Doximity in the fourth quarter worth $559,000. Fountainhead AM LLC acquired a new stake in Doximity in the third quarter valued at about $710,000. Penserra Capital Management LLC acquired a new position in Doximity during the 3rd quarter worth approximately $2,384,000. Principal Financial Group Inc. raised its position in Doximity by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock valued at $15,695,000 after purchasing an additional 4,282 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Doximity during the fourth quarter valued at about $362,000. 87.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on DOCS shares. KeyCorp decreased their price target on shares of Doximity from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Raymond James reiterated an "outperform" rating and set a $83.00 price target (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Barclays increased their target price on shares of Doximity from $52.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Doximity from $30.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group lowered Doximity from a "buy" rating to a "hold" rating and upped their target price for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.22.

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Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.40% of the company's stock.

Doximity Price Performance

DOCS stock traded up $1.69 during mid-day trading on Wednesday, hitting $69.52. 1,695,157 shares of the stock were exchanged, compared to its average volume of 2,464,387. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 69.52, a PEG ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21. The business has a fifty day moving average price of $62.30 and a 200 day moving average price of $51.18.

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.