State of Michigan Retirement System Acquires 600 Shares of Doximity, Inc. (NASDAQ:DOCS)

State of Michigan Retirement System boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,300 shares of the company’s stock after acquiring an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Doximity were worth $1,618,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DOCS. FMR LLC lifted its holdings in shares of Doximity by 30.5% during the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock valued at $297,920,000 after purchasing an additional 1,598,602 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Doximity during the 3rd quarter valued at approximately $29,453,000. Los Angeles Capital Management LLC raised its stake in Doximity by 6,242.6% during the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after buying an additional 640,612 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Doximity in the third quarter worth $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 worth $124,503,000 after acquiring an additional 472,565 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DOCS. Barclays lifted their price target on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research 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 report on Thursday, November 21st. Truist Financial increased their price target on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Finally, Needham & Company LLC lifted their target price on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Eleven 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 data from MarketBeat, Doximity currently has an average rating of “Moderate Buy” and an average target price of $64.22.

Doximity Stock Down 2.8 %

Shares of DOCS opened at $64.09 on Friday. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of 64.09, a PEG ratio of 4.10 and a beta of 1.34. The business has a 50-day simple moving average of $62.80 and a two-hundred day simple moving average of $51.71.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the company’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 completion of the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.