Iron Triangle Partners LP Acquires Shares of 312,575 Doximity, Inc. (NASDAQ:DOCS)

Iron Triangle Partners LP bought a new position in Doximity, Inc. (NASDAQ:DOCS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 312,575 shares of the company’s stock, valued at approximately $16,688,000. Doximity comprises about 1.8% of Iron Triangle Partners LP’s portfolio, making the stock its 22nd largest position.

Other large investors also recently modified their holdings of the company. Barclays PLC increased its position in Doximity by 60.5% in the third quarter. Barclays PLC now owns 53,401 shares of the company’s stock worth $2,327,000 after purchasing an additional 20,125 shares during the period. Franklin Resources Inc. boosted its stake in shares of Doximity by 564.1% in the 3rd quarter. Franklin Resources Inc. now owns 83,098 shares of the company’s stock valued at $3,487,000 after purchasing an additional 70,585 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Doximity by 20.6% in the 4th quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock valued at $93,000 after purchasing an additional 296 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Doximity by 6.2% during the 4th quarter. Nordea Investment Management AB now owns 52,176 shares of the company’s stock worth $2,815,000 after buying an additional 3,053 shares during the period. Finally, Wedmont Private Capital bought a new stake in shares of Doximity during the fourth quarter worth approximately $298,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Down 0.4 %

Shares of DOCS stock opened at $59.10 on Friday. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21. The firm has a fifty day moving average of $57.99 and a 200-day moving average of $57.25. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 59.10, a P/E/G ratio of 4.10 and a beta of 1.41.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on DOCS shares. Needham & Company LLC raised their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and increased their price target for the company from $60.00 to $90.00 in a research note on Friday, February 7th. The Goldman Sachs Group lifted their price objective on Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and increased their target price for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Finally, Mizuho raised their target price on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.39.

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.