Doximity, Inc. (NASDAQ:DOCS) Stock Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in Doximity, Inc. (NASDAQ:DOCS) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,137 shares of the company’s stock after selling 11,075 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Doximity were worth $2,359,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Doximity by 324.2% during the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after buying an additional 603 shares during the last quarter. LRI Investments LLC bought a new position in shares of Doximity in the first quarter valued at approximately $27,000. Blue Trust Inc. boosted its holdings in shares of Doximity by 621.4% during the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,193 shares during the period. GAMMA Investing LLC grew its stake in Doximity by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,439 shares of the company’s stock valued at $63,000 after buying an additional 412 shares during the last quarter. Finally, Quarry LP raised its holdings in Doximity by 101.2% in the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS opened at $52.88 on Thursday. The business’s fifty day moving average price is $42.48 and its two-hundred day moving average price is $33.68. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 5.08 and a beta of 1.30. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $61.75.

Wall Street Analyst Weigh In

DOCS has been the subject of several research reports. Barclays increased their price objective on Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America lifted their price objective on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Raymond James reiterated an “outperform” rating and set a $65.00 target price (up from $37.00) on shares of Doximity in a research report on Friday, November 8th. Canaccord Genuity Group cut shares of Doximity from a “buy” rating to a “hold” rating and raised their price target for the stock from $40.00 to $60.00 in a research note on Wednesday. Finally, Wells Fargo & Company upgraded Doximity from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $19.00 to $41.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Doximity currently has an average rating of “Hold” and an average target price of $48.14.

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.