Allspring Global Investments Holdings LLC Lowers Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Allspring Global Investments Holdings LLC lowered its stake in Doximity, Inc. (NASDAQ:DOCS) by 15.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,332 shares of the company’s stock after selling 3,422 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Doximity were worth $979,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DOCS. UMB Bank n.a. grew its holdings in Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after purchasing an additional 235 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares in the last quarter. Morse Asset Management Inc purchased a new stake in Doximity during the third quarter valued at approximately $46,000. Covestor Ltd lifted its position in Doximity by 441.9% during the third quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $73,000 after acquiring an additional 1,370 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Doximity by 20.6% in the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock worth $93,000 after buying an additional 296 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOCS. Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a report on Friday, February 7th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Barclays lifted their target price on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Needham & Company LLC lifted their target price on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Raymond James reissued an “outperform” rating and issued a $83.00 price target (up from $65.00) on shares of Doximity in a research note on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity currently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Doximity Stock Performance

NASDAQ:DOCS opened at $72.25 on Monday. The stock has a 50-day simple moving average of $60.19 and a 200-day simple moving average of $49.38. The stock has a market cap of $13.49 billion, a P/E ratio of 72.25, a P/E/G ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was 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 of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.40% of the company’s stock.

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.