Clearbridge Investments LLC Cuts Holdings in Doximity, Inc. (NASDAQ:DOCS)

Clearbridge Investments LLC reduced its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 5,121,344 shares of the company’s stock after selling 198,872 shares during the period. Clearbridge Investments LLC’s holdings in Doximity were worth $273,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC boosted its holdings in shares of Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after acquiring an additional 440 shares during the last quarter. UMB Bank n.a. boosted its holdings in Doximity by 69.1% in the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after purchasing an additional 250 shares during the last quarter. Optimum Investment Advisors bought a new stake in Doximity in the 4th quarter worth approximately $43,000. Finally, Morse Asset Management Inc purchased a new stake in Doximity during the 3rd quarter valued at $46,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOCS has been the subject of several research analyst reports. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $31.00 to $78.00 in a report on Friday, February 7th. Needham & Company LLC boosted their price target on Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Mizuho upped their price target on shares of Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a report on Friday, February 7th. Finally, KeyCorp reduced their target price on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.22.

Doximity Stock Performance

Shares of DOCS stock opened at $58.40 on Friday. The stock has a 50 day moving average price of $65.48 and a 200 day moving average price of $54.43. The firm has a market capitalization of $10.90 billion, a P/E ratio of 58.40, a P/E/G ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21.

Insider Activity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction 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 sale, the director now owns 6,360 shares in the company, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.