Doximity, Inc. (NASDAQ:DOCS) Stake Boosted by Rakuten Securities Inc.

Rakuten Securities Inc. raised its stake in Doximity, Inc. (NASDAQ:DOCS) by 696.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,393 shares of the company’s stock after buying an additional 16,083 shares during the quarter. Rakuten Securities Inc.’s holdings in Doximity were worth $982,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Doximity by 30.5% during the 3rd quarter. FMR LLC now owns 6,837,733 shares of the company’s stock worth $297,920,000 after buying an additional 1,598,602 shares in the last quarter. State Street Corp grew its holdings in shares of Doximity by 2.5% in the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock valued at $124,503,000 after buying an additional 472,565 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Doximity by 33.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 870,322 shares of the company’s stock valued at $46,466,000 after purchasing an additional 219,448 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Doximity by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,524 shares of the company’s stock valued at $41,565,000 after purchasing an additional 25,523 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on DOCS shares. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $33.00 to $53.00 in a research report on Thursday, November 14th. Truist Financial boosted their price objective on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Raymond James reaffirmed an “outperform” rating and issued a $83.00 price target (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Doximity in a report on Friday, February 7th. Finally, Canaccord Genuity Group cut Doximity from a “buy” rating to a “hold” rating and upped their price target for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Eleven 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 37.40% of the company’s stock.

Doximity Price Performance

NASDAQ DOCS opened at $61.64 on Wednesday. The firm has a market cap of $11.51 billion, a PE ratio of 61.64, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21. The stock’s 50 day simple moving average is $63.11 and its 200 day simple moving average is $52.16.

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.