Balyasny Asset Management L.P. Invests $4.50 Million in Doximity, Inc. (NASDAQ:DOCS)

Balyasny Asset Management L.P. bought a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 84,189 shares of the company's stock, valued at approximately $4,495,000.

Other large investors have also added to or reduced their stakes in the company. QSV Equity Investors LLC lifted its position in shares of Doximity by 0.3% during the 4th 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 in the last quarter. Handelsbanken Fonder AB raised its stake in Doximity by 0.7% in the 4th quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company's stock valued at $1,586,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. raised its stake in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after purchasing an additional 235 shares during the last quarter. Fielder Capital Group LLC raised its stake in Doximity by 4.5% in the 4th quarter. Fielder Capital Group LLC now owns 5,488 shares of the company's stock valued at $293,000 after purchasing an additional 235 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in 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 last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Performance

Shares of DOCS traded down $1.00 during midday trading on Wednesday, hitting $59.43. The company had a trading volume of 3,583,728 shares, compared to its average volume of 2,036,831. The company's 50-day simple moving average is $57.71 and its 200-day simple moving average is $57.52. The firm has a market capitalization of $11.10 billion, a P/E ratio of 59.43, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a 1 year low of $23.27 and a 1 year high of $85.21.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. KeyCorp cut their target price on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Mizuho raised their target price on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Canaccord Genuity Group raised their target price on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research note on Friday, February 7th. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $60.00 to $90.00 in a research report on Friday, February 7th. Finally, Truist Financial cut their price objective on Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Doximity has a consensus rating of "Moderate Buy" and an average target price of $65.39.

Insider Transactions at Doximity

In other Doximity 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 transaction, the director now directly owns 16,618 shares of the company's stock, valued at approximately $946,062.74. The trade was a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now directly owns 357,165 shares in the company, 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.

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.