Wellington Management Group LLP Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Wellington Management Group LLP acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, Holdings Channel reports. The fund acquired 6,656 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Shaker Investments LLC OH purchased a new stake in Doximity in the 4th quarter worth $559,000. Principal Financial Group Inc. lifted its stake in Doximity by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after purchasing an additional 4,282 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Doximity during the 4th quarter valued at $362,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Doximity during the fourth quarter valued at $203,000. Finally, Barclays PLC grew its stake in Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock worth $2,327,000 after acquiring an additional 20,125 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Stock Down 0.4 %

Shares of NASDAQ DOCS 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 company’s 50-day simple moving average is $64.63 and its 200-day simple moving average is $55.65. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 52.65, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Analyst Ratings Changes

Several brokerages have recently commented on DOCS. Leerink Partners upgraded 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 research note on Friday, February 7th. Bank of America increased their price objective on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their target price on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Canaccord Genuity Group increased their price objective on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Mizuho raised their target price on shares of Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.72.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 37.40% of the company’s stock.

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.