Doximity, Inc. (NASDAQ:DOCS) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 41.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,743 shares of the company’s stock after selling 127,483 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Doximity were worth $9,651,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of 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 during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Doximity by 564.1% during the third quarter. Franklin Resources Inc. now owns 83,098 shares of the company’s stock worth $3,487,000 after purchasing an additional 70,585 shares during the period. Retirement Systems of Alabama grew its position in Doximity by 254.3% in the 3rd quarter. Retirement Systems of Alabama now owns 534,256 shares of the company’s stock valued at $23,278,000 after buying an additional 383,480 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Doximity in the 3rd quarter valued at $29,453,000. Finally, JPMorgan Chase & Co. raised its position in Doximity by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 498,056 shares of the company’s stock worth $21,700,000 after buying an additional 15,771 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Insider Activity at Doximity

In other Doximity news, 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 value of $2,575,350.00. Following the transaction, the chief financial officer now directly owns 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the sale, the director now owns 16,618 shares of the company’s stock, valued at approximately $946,062.74. This trade represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,000 shares of company stock valued at $3,841,610. 37.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DOCS has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Bank of America boosted their target price on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Needham & Company LLC raised their price target on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley dropped their price objective on Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Leerink Partnrs raised Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.39.

Doximity Price Performance

DOCS stock opened at $59.26 on Friday. The company’s 50 day simple moving average is $59.10 and its 200-day simple moving average is $56.60. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21. The firm has a market capitalization of $11.06 billion, a PE ratio of 59.26, a P/E/G ratio of 4.10 and a beta of 1.41.

About Doximity

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.