Bayesian Capital Management LP Acquires Shares of 40,300 Doximity, Inc. (NASDAQ:DOCS)

Bayesian Capital Management LP acquired a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 40,300 shares of the company's stock, valued at approximately $2,152,000.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of Doximity during the fourth quarter worth $15,697,000. Algert Global LLC grew its position in Doximity by 71.3% in the 4th quarter. Algert Global LLC now owns 158,367 shares of the company's stock valued at $8,455,000 after purchasing an additional 65,922 shares during the period. AXA S.A. increased its stake in Doximity by 147.8% during the 4th quarter. AXA S.A. now owns 439,232 shares of the company's stock valued at $23,451,000 after purchasing an additional 262,004 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Doximity by 2.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,993 shares of the company's stock worth $854,000 after buying an additional 360 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Doximity during the fourth quarter valued at about $9,123,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Up 1.7 %

Shares of NASDAQ DOCS traded up $0.98 during mid-day trading on Thursday, reaching $59.34. 1,771,715 shares of the company were exchanged, compared to its average volume of 2,012,297. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The company's 50 day moving average price is $58.34 and its 200 day moving average price is $56.91. The stock has a market capitalization of $11.08 billion, a PE ratio of 59.34, a PEG ratio of 4.10 and a beta of 1.41.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOCS. Piper Sandler raised shares of Doximity from a "neutral" rating to an "overweight" rating and raised their price target for the company from $31.00 to $78.00 in a research report on Friday, February 7th. KeyCorp reduced their target price on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $90.00 in a report on Friday, February 7th. Truist Financial cut their target price on Doximity from $65.00 to $58.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley decreased their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Eleven investment 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. According to MarketBeat.com, Doximity has an average rating of "Moderate Buy" and an average price target of $65.39.

Insiders Place Their Bets

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 value of $2,575,350.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction that occurred 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 directly owns 16,618 shares of the company's stock, valued at approximately $946,062.74. This trade represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 37.40% of the company's stock.

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.