Trexquant Investment LP Takes $9.79 Million Position in Doximity, Inc. (NASDAQ:DOCS)

Trexquant Investment LP acquired a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 183,388 shares of the company's stock, valued at approximately $9,791,000. Trexquant Investment LP owned about 0.10% of Doximity at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Global Retirement Partners LLC raised its position in shares of 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 acquiring an additional 440 shares during the last quarter. UMB Bank n.a. increased its position in shares of Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after buying an additional 235 shares during the period. Larson Financial Group LLC raised its stake in Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new position in Doximity in the fourth quarter valued at $43,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Doximity during the 3rd quarter worth approximately $46,000. Institutional investors own 87.19% of the company's stock.

Doximity Stock Performance

DOCS traded up $0.77 on Monday, reaching $52.01. The company had a trading volume of 1,405,589 shares, compared to its average volume of 1,951,984. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 51.92, a P/E/G ratio of 4.10 and a beta of 1.41. The business has a 50 day simple moving average of $65.50 and a 200 day simple moving average of $55.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Leerink Partnrs raised shares of Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Piper Sandler raised 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 note on Friday, February 7th. Raymond James reiterated an "outperform" rating and issued a $83.00 target price (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $60.00 to $90.00 in a report on Friday, February 7th. Finally, Stephens initiated coverage on Doximity in a research note on Friday, December 20th. They issued an "equal weight" rating and a $55.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Doximity currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.40% of the stock is currently owned by 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.