Empower Advisory Group LLC Cuts Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Empower Advisory Group LLC decreased its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,615 shares of the company’s stock after selling 690 shares during the period. Empower Advisory Group LLC’s holdings in Doximity were worth $620,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC lifted its holdings in Doximity by 30.5% during 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 during the period. State Street Corp lifted its holdings in Doximity by 2.5% during the third quarter. State Street Corp now owns 3,693,982 shares of the company’s stock worth $160,947,000 after acquiring an additional 88,922 shares during the period. Geode Capital Management LLC lifted its holdings in Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock worth $124,503,000 after acquiring an additional 472,565 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Doximity by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,001 shares of the company’s stock worth $32,808,000 after acquiring an additional 31,966 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Doximity during the third quarter worth $29,453,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.40% of the stock is owned by company insiders.

Doximity Stock Up 1.1 %

Doximity stock opened at $77.94 on Wednesday. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The business has a 50-day simple moving average of $58.86 and a 200 day simple moving average of $48.35. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 4.61 and a beta of 1.39.

Analysts Set New Price Targets

A number of brokerages recently commented on DOCS. Bank of America lifted their price target on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Finally, Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $33.00 to $53.00 in a research note on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Doximity has a consensus rating of “Moderate Buy” and a consensus target price 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.