D. E. Shaw & Co. Inc. Increases Stock Position in Doximity, Inc. (NASDAQ:DOCS)

D. E. Shaw & Co. Inc. boosted its holdings in Doximity, Inc. (NASDAQ:DOCS) by 180.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 972,157 shares of the company’s stock after acquiring an additional 625,467 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Doximity were worth $51,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Doximity by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company’s stock valued at $598,159,000 after purchasing an additional 485,102 shares in the last quarter. FMR LLC grew its holdings in Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after buying an additional 2,571,580 shares in the last quarter. Geode Capital Management LLC grew its holdings in Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company’s stock valued at $157,668,000 after buying an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Doximity by 2.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company’s stock valued at $124,644,000 after buying an additional 62,366 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Doximity by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company’s stock valued at $98,649,000 after acquiring an additional 164,200 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insiders Place Their Bets

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now owns 16,618 shares of the company’s stock, valued at $946,062.74. This trade represents a 10.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the transaction, the chief financial officer now directly owns 357,165 shares of the company’s stock, valued at approximately $20,440,552.95. This trade represents a 11.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Mizuho increased their target price on shares of Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Truist Financial decreased their target price on Doximity from $65.00 to $58.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Finally, Raymond James restated 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Doximity presently has an average rating of “Moderate Buy” and an average target price of $65.39.

Doximity Trading Down 0.4 %

NASDAQ DOCS opened at $59.10 on Friday. The firm has a market cap of $11.03 billion, a PE ratio of 59.10, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21. The stock has a 50-day moving average of $57.99 and a 200-day moving average of $57.14.

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.