California Public Employees Retirement System Decreases Holdings in Doximity, Inc. (NASDAQ:DOCS)

California Public Employees Retirement System trimmed its stake in Doximity, Inc. (NASDAQ:DOCS) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,780 shares of the company’s stock after selling 8,360 shares during the quarter. California Public Employees Retirement System’s holdings in Doximity were worth $11,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in Doximity by 708.7% in the fourth 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 during the last quarter. QSV Equity Investors LLC raised its stake in shares of Doximity by 0.3% in the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company’s stock valued at $3,244,000 after buying an additional 186 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Doximity by 209.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 18,484 shares of the company’s stock valued at $987,000 after buying an additional 12,509 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Doximity by 547.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 106,727 shares of the company’s stock worth $5,698,000 after acquiring an additional 90,232 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in Doximity in the 4th quarter worth about $485,000. 87.19% of the stock is owned by institutional investors.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $51.23 on Friday. The firm has a fifty day moving average of $65.50 and a 200 day moving average of $55.02. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21. The firm has a market capitalization of $9.56 billion, a PE ratio of 51.23, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Analyst Ratings Changes

Several research firms have commented on DOCS. Needham & Company LLC upped their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Canaccord Genuity Group raised their price target on Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Finally, Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the sale, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 37.40% of the company’s stock.

Doximity Company 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.