Freestone Grove Partners LP Acquires New Position in Doximity, Inc. (NASDAQ:DOCS)

Freestone Grove Partners LP bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 170,875 shares of the company's stock, valued at approximately $9,123,000. Freestone Grove Partners LP owned 0.09% of Doximity at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC increased its stake in shares of Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after buying an additional 440 shares during the period. UMB Bank n.a. grew its holdings in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after acquiring an additional 235 shares during the period. Larson Financial Group LLC lifted its stake in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after purchasing an additional 250 shares during the period. Optimum Investment Advisors bought a new position in Doximity in the fourth quarter worth $43,000. Finally, Morse Asset Management Inc purchased a new position in Doximity during the third quarter valued at $46,000. 87.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the sale, the director now owns 16,618 shares in the company, valued at approximately $946,062.74. The trade was a 10.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Doximity Price Performance

Shares of DOCS stock traded up $0.82 during trading hours on Wednesday, reaching $57.92. 449,746 shares of the company traded hands, compared to its average volume of 2,316,276. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21. The company has a market cap of $10.81 billion, a P/E ratio of 57.92, a P/E/G ratio of 4.10 and a beta of 1.41. The firm has a 50-day moving average price of $58.58 and a 200 day moving average price of $56.90.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DOCS shares. Raymond James reiterated an "outperform" rating and issued a $83.00 price target (up from $65.00) on shares of Doximity in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price target on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Piper Sandler raised Doximity from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $31.00 to $78.00 in a research report on Friday, February 7th. Needham & Company LLC boosted their target price on Doximity from $65.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Morgan Stanley reduced their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Eleven 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $65.39.

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.