Trexquant Investment LP Takes $9.79 Million Position in Doximity, Inc. (NASDAQ:DOCS)

Trexquant Investment LP acquired a new position in Doximity, Inc. (NASDAQ:DOCS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 183,388 shares of the company’s stock, valued at approximately $9,791,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Doximity by 708.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock valued at $80,641,000 after purchasing an additional 1,323,634 shares in the last quarter. Franklin Resources Inc. raised its stake in Doximity by 1,178.3% in the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock worth $56,711,000 after buying an additional 979,113 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Doximity during the third quarter worth $29,453,000. Wilmington Savings Fund Society FSB bought a new stake in Doximity during the 3rd quarter valued at $24,691,000. Finally, Vanguard Group Inc. increased its holdings in shares of Doximity by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company’s stock valued at $598,159,000 after acquiring an additional 485,102 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Performance

NASDAQ:DOCS opened at $57.96 on Thursday. The firm’s fifty day moving average is $65.63 and its two-hundred day moving average is $54.84. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 57.96, a PEG ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the sale, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 37.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Bank of America increased their price target on shares of Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Needham & Company LLC lifted their price objective on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Canaccord Genuity Group increased their target price on shares of Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Finally, KeyCorp cut their price target on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Doximity currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

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.