Counterpoint Mutual Funds LLC Invests $1.82 Million in Doximity, Inc. (NASDAQ:DOCS)

Counterpoint Mutual Funds LLC bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 34,086 shares of the company’s stock, valued at approximately $1,820,000. Doximity comprises about 0.2% of Counterpoint Mutual Funds LLC’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its position in shares of Doximity by 3.9% in the fourth quarter. Corient Private Wealth LLC now owns 8,887 shares of the company’s stock worth $474,000 after buying an additional 334 shares during the period. one8zero8 LLC bought a new stake in shares of Doximity in the 4th quarter valued at approximately $267,000. Natixis Advisors LLC raised its holdings in shares of Doximity by 12.8% during the fourth quarter. Natixis Advisors LLC now owns 35,882 shares of the company’s stock worth $1,916,000 after purchasing an additional 4,067 shares during the period. Swiss National Bank lifted its holdings in Doximity by 2.5% in the fourth quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $11,831,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Rakuten Securities Inc. grew its stake in Doximity by 696.2% during the 4th quarter. Rakuten Securities Inc. now owns 18,393 shares of the company’s stock worth $982,000 after buying an additional 16,083 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Stock Up 4.2 %

Shares of Doximity stock opened at $63.33 on Monday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 63.33, a P/E/G ratio of 4.10 and a beta of 1.34. The company’s fifty day moving average is $63.63 and its 200 day moving average is $52.72. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21.

Insider Activity at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 37.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. KeyCorp decreased their target price on Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Canaccord Genuity Group lifted their target price on shares of Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Eleven investment 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, Doximity has a consensus rating of “Moderate Buy” and an average price target of $64.22.

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.