Clearbridge Investments LLC Has $273.43 Million Position in Doximity, Inc. (NASDAQ:DOCS)

Clearbridge Investments LLC decreased its stake in Doximity, Inc. (NASDAQ:DOCS) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,121,344 shares of the company’s stock after selling 198,872 shares during the period. Clearbridge Investments LLC owned 2.74% of Doximity worth $273,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Shaker Investments LLC OH acquired a new stake in Doximity during the 4th quarter valued at approximately $559,000. Principal Financial Group Inc. increased its position in shares of Doximity by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after buying an additional 4,282 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Doximity during the fourth quarter worth $362,000. Stratos Wealth Partners LTD. bought a new position in Doximity during the fourth quarter worth $203,000. Finally, Barclays PLC raised its position in shares of Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock worth $2,327,000 after acquiring an additional 20,125 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Price Performance

Shares of Doximity stock opened at $58.40 on Friday. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 58.40, a PEG ratio of 4.10 and a beta of 1.34. The company has a 50-day moving average of $65.48 and a 200 day moving average of $54.43.

Analyst Ratings Changes

A number of equities analysts have issued reports on DOCS shares. Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $90.00 in a research report on Friday, February 7th. KeyCorp cut their price objective on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Canaccord Genuity Group raised their price target on shares of Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $83.00 price objective (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Eleven equities research 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. Based on data from MarketBeat, Doximity currently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’s 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 sale, the director now owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 37.40% of the company’s stock.

Doximity Company 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.