Sumitomo Mitsui Trust Group Inc. Sells 2,005 Shares of Doximity, Inc. (NASDAQ:DOCS)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 13.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,445 shares of the company’s stock after selling 2,005 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Doximity were worth $718,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DOCS. UMB Bank n.a. grew its position in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after acquiring an additional 235 shares during the last quarter. Farther Finance Advisors LLC grew its position in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after acquiring an additional 603 shares during the last quarter. Morse Asset Management Inc bought a new position in Doximity in the 3rd quarter valued at $46,000. Covestor Ltd grew its position in Doximity by 441.9% in the 3rd 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, First Horizon Advisors Inc. grew its position in Doximity by 22.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock valued at $91,000 after acquiring an additional 384 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

NASDAQ DOCS opened at $77.13 on Friday. The company has a market cap of $14.40 billion, a PE ratio of 77.13, a price-to-earnings-growth ratio of 4.61 and a beta of 1.39. The stock’s 50 day simple moving average is $57.89 and its 200-day simple moving average is $47.37. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21.

Wall Street Analyst Weigh In

DOCS has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Barclays upped their target price on Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Truist Financial upped their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Needham & Company LLC upped their target price on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $90.00 in a report on Friday, February 7th. Eleven investment 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity 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 transaction, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 37.40% of the company’s stock.

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.