Alliancebernstein L.P. Grows Position in Doximity, Inc. (NASDAQ:DOCS)

Alliancebernstein L.P. raised its holdings in Doximity, Inc. (NASDAQ:DOCS) by 11.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 176,191 shares of the company’s stock after buying an additional 17,700 shares during the quarter. Alliancebernstein L.P.’s holdings in Doximity were worth $9,407,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on DOCS shares. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Truist Financial decreased their price objective on shares of Doximity from $65.00 to $58.00 and set a “hold” rating on the stock in a research report on Thursday. Mizuho raised their target price on shares of Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Wells Fargo & Company restated an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Finally, Leerink Partners upgraded shares of 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 report on Friday, February 7th. Eleven research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.72.

Doximity Trading Down 7.3 %

NASDAQ DOCS opened at $51.52 on Friday. The business’s 50-day moving average price is $64.86 and its 200 day moving average price is $55.41. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The company has a market capitalization of $9.62 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

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.