State of New Jersey Common Pension Fund D Sells 6,893 Shares of Doximity, Inc. (NASDAQ:DOCS)

State of New Jersey Common Pension Fund D lowered its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,244 shares of the company's stock after selling 6,893 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Doximity were worth $2,522,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its position in shares of Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company's stock worth $297,920,000 after acquiring an additional 1,598,602 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Doximity in the 3rd quarter valued at $29,453,000. Los Angeles Capital Management LLC raised its position in Doximity by 6,242.6% in the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company's stock valued at $28,359,000 after purchasing an additional 640,612 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Doximity during the third quarter worth about $24,691,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 buying an additional 472,565 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Stock Down 3.7 %

DOCS stock traded down $2.75 during mid-day trading on Friday, reaching $72.25. The company had a trading volume of 3,202,946 shares, compared to its average volume of 2,419,548. The stock's 50-day simple moving average is $59.79 and its two-hundred day simple moving average is $48.73. The stock has a market capitalization of $13.49 billion, a P/E ratio of 72.25, a P/E/G ratio of 4.20 and a beta of 1.39. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

Insider Activity at Doximity

In other Doximity 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 sale, 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 can be accessed through this link. 37.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DOCS has been the topic of several recent research reports. KeyCorp reduced their price target on Doximity from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Raymond James reissued an "outperform" rating and set a $83.00 target price (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Doximity from $43.00 to $55.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Mizuho boosted their price objective on shares of Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Piper Sandler raised shares of Doximity from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $31.00 to $78.00 in a research report on Friday, February 7th. 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. According to MarketBeat.com, the company has an average 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.