Sequoia Financial Advisors LLC Takes Position in Doximity, Inc. (NASDAQ:DOCS)

Sequoia Financial Advisors LLC bought a new stake in Doximity, Inc. (NASDAQ:DOCS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,289 shares of the company’s stock, valued at approximately $282,000.

Several other large investors have also modified their holdings of DOCS. KBC Group NV boosted its stake in Doximity by 22.9% during the 3rd quarter. KBC Group NV now owns 3,296 shares of the company’s stock worth $144,000 after purchasing an additional 614 shares during the period. Natixis Advisors LLC boosted its stake in shares of Doximity by 43.5% during the 3rd quarter. Natixis Advisors LLC now owns 31,815 shares of the company’s stock worth $1,386,000 after purchasing an additional 9,644 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Doximity by 5.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,991 shares of the company’s stock worth $1,350,000 after purchasing an additional 1,474 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Doximity in the third quarter worth approximately $133,000. Finally, Commerce Bank acquired a new stake in shares of Doximity in the third quarter worth approximately $314,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Up 2.2 %

Shares of Doximity stock opened at $62.68 on Thursday. The stock has a market capitalization of $11.70 billion, a P/E ratio of 62.68, a PEG ratio of 4.10 and a beta of 1.34. The stock has a 50 day moving average price of $64.04 and a two-hundred day moving average price of $53.14. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21.

Analyst Upgrades and Downgrades

DOCS has been the topic of several research reports. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $90.00 in a report on Friday, February 7th. Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Finally, Needham & Company LLC boosted their price objective on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Doximity currently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.