Raymond James Financial Inc. Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Raymond James Financial Inc. purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, Holdings Channel reports. The fund purchased 174,092 shares of the company’s stock, valued at approximately $9,295,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Shaker Investments LLC OH bought a new stake in Doximity during the 4th quarter worth about $559,000. Penserra Capital Management LLC bought a new stake in Doximity during the 3rd quarter worth about $2,384,000. Principal Financial Group Inc. lifted its position in Doximity by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after buying an additional 4,282 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Doximity during the 4th quarter worth about $362,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Doximity during the 4th quarter worth about $203,000. 87.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on 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 owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 37.40% of the company’s stock.

Doximity Stock Up 0.4 %

Shares of NASDAQ:DOCS opened at $63.01 on Friday. The company’s 50 day moving average price is $64.42 and its two-hundred day moving average price is $53.39. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21. The firm has a market cap of $11.76 billion, a PE ratio of 63.01, a PEG ratio of 4.10 and a beta of 1.34.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price objective 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. Leerink Partnrs upgraded shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. KeyCorp lowered their price objective on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and upped their price target for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Doximity currently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

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.