T. Rowe Price Investment Management Inc. Sells 505,185 Shares of Doximity, Inc. (NASDAQ:DOCS)

T. Rowe Price Investment Management Inc. decreased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 14.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,075,741 shares of the company's stock after selling 505,185 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.65% of Doximity worth $164,214,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DOCS. Global Retirement Partners LLC grew its holdings in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. increased its holdings in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after acquiring an additional 235 shares during the last quarter. Larson Financial Group LLC raised its stake in Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after acquiring an additional 250 shares during the period. Optimum Investment Advisors acquired a new stake in Doximity during the 4th quarter valued at $43,000. Finally, Morse Asset Management Inc bought a new position in Doximity during the third quarter worth $46,000. Institutional investors own 87.19% of the company's stock.

Doximity Price Performance

DOCS stock traded up $0.10 during midday trading on Monday, reaching $56.75. 1,281,408 shares of the stock were exchanged, compared to its average volume of 1,990,038. The stock has a market capitalization of $10.59 billion, a PE ratio of 56.75, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The company has a fifty day moving average price of $60.70 and a 200 day moving average price of $56.28.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DOCS. Canaccord Genuity Group raised their target price on shares of Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research note 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 research report on Thursday, April 10th. Mizuho lifted their price target on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Raymond James reaffirmed an "outperform" rating and issued a $83.00 price objective (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Finally, Leerink Partnrs upgraded Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.39.

Insider Buying and Selling

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 transaction of $1,152,400.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 37.40% of the stock is owned by corporate insiders.

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.