ArrowMark Colorado Holdings LLC Sells 1,395,594 Shares of Doximity, Inc. (NASDAQ:DOCS)

ArrowMark Colorado Holdings LLC trimmed its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 39.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,152,861 shares of the company's stock after selling 1,395,594 shares during the period. Doximity comprises about 1.5% of ArrowMark Colorado Holdings LLC's holdings, making the stock its 14th largest position. ArrowMark Colorado Holdings LLC owned approximately 1.15% of Doximity worth $114,941,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AXA S.A. lifted its position in Doximity by 147.8% in the 4th quarter. AXA S.A. now owns 439,232 shares of the company's stock valued at $23,451,000 after acquiring an additional 262,004 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Doximity by 2.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,993 shares of the company's stock valued at $854,000 after purchasing an additional 360 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Doximity during the fourth quarter valued at approximately $9,123,000. Kapitalo Investimentos Ltda bought a new stake in Doximity during the fourth quarter worth $50,000. Finally, Utah Retirement Systems raised its position in Doximity by 3.1% in the 4th quarter. Utah Retirement Systems now owns 103,173 shares of the company's stock valued at $5,508,000 after buying an additional 3,143 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction, the chief financial officer now owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. The trade was a 11.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the transaction, the director now owns 16,618 shares in the company, valued at approximately $946,062.74. This trade represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock worth $3,841,610 over the last ninety days. Company insiders own 37.40% of the company's stock.

Analysts Set New Price Targets

DOCS has been the subject of several recent analyst reports. Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Needham & Company LLC upped 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. Truist Financial dropped their target price on shares of Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $90.00 in a report on Friday, February 7th. Finally, Raymond James reiterated an "outperform" rating and set a $83.00 price target (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Doximity currently has a consensus rating of "Moderate Buy" and an average target price of $65.39.

Doximity Price Performance

Doximity stock opened at $59.26 on Friday. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21. The firm has a market capitalization of $11.06 billion, a P/E ratio of 59.26, a PEG ratio of 4.10 and a beta of 1.41. The business has a fifty day moving average price of $59.10 and a 200-day moving average price of $56.60.

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.

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