Iron Triangle Partners LP Makes New $16.69 Million Investment in Doximity, Inc. (NASDAQ:DOCS)

Iron Triangle Partners LP bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 312,575 shares of the company's stock, valued at approximately $16,688,000. Doximity accounts for about 1.8% of Iron Triangle Partners LP's holdings, making the stock its 22nd biggest holding. Iron Triangle Partners LP owned 0.17% of Doximity as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DOCS. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 485,102 shares during the last quarter. FMR LLC boosted its position in shares of Doximity by 37.6% during the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after buying an additional 2,571,580 shares during the period. Geode Capital Management LLC grew its stake in shares of Doximity by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock valued at $157,668,000 after buying an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Doximity by 2.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock valued at $124,644,000 after buying an additional 62,366 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Doximity by 9.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock valued at $98,649,000 after buying an additional 164,200 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated 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 of the company's stock, valued at $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the 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 transaction, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 37.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DOCS shares. KeyCorp lowered their target price on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Raymond James reaffirmed an "outperform" rating and set a $83.00 price objective (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Leerink Partnrs upgraded Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Canaccord Genuity Group lifted their target price on Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a report on Friday, February 7th. Finally, Truist Financial cut their price target on Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.39.

Doximity Stock Performance

NASDAQ DOCS traded down $1.00 during trading on Wednesday, reaching $59.43. The company's stock had a trading volume of 3,583,728 shares, compared to its average volume of 2,036,833. The business's fifty day moving average price is $57.62 and its 200-day moving average price is $57.53. Doximity, Inc. has a twelve month low of $23.27 and a twelve month high of $85.21. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 4.10 and a beta of 1.41.

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.