Emergence GP Partners LLC Sells 193,750 Shares of Doximity, Inc. (NASDAQ:DOCS)

Emergence GP Partners LLC decreased its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 581,250 shares of the company’s stock after selling 193,750 shares during the period. Doximity accounts for approximately 11.4% of Emergence GP Partners LLC’s portfolio, making the stock its 2nd biggest position. Emergence GP Partners LLC’s holdings in Doximity were worth $31,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOCS. Morse Asset Management Inc bought a new position in shares of Doximity during the 3rd quarter valued at $46,000. Orion Portfolio Solutions LLC bought a new position in Doximity during the third quarter valued at about $260,000. Barclays PLC raised its holdings in Doximity by 60.5% during the third quarter. Barclays PLC now owns 53,401 shares of the company’s stock valued at $2,327,000 after buying an additional 20,125 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Doximity during the 3rd quarter worth about $351,000. Finally, Geode Capital Management LLC boosted its position in Doximity by 19.8% during the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock worth $124,503,000 after purchasing an additional 472,565 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of recent analyst reports. KeyCorp dropped their price objective on Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC raised their price target on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. Mizuho lifted their target price on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Eleven 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 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 Stock Performance

Shares of Doximity stock opened at $52.65 on Tuesday. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 52.65, a PEG ratio of 4.10 and a beta of 1.41. The firm has a fifty day moving average of $64.63 and a two-hundred day moving average of $55.65.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the 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 sale, the director now directly owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 37.40% of the stock is currently owned by corporate insiders.

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.