Canada Pension Plan Investment Board Buys 81,300 Shares of Doximity, Inc. (NASDAQ:DOCS)

Canada Pension Plan Investment Board increased its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 199.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,000 shares of the company's stock after acquiring an additional 81,300 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of Doximity worth $6,514,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of DOCS. Morse Asset Management Inc bought a new position in Doximity in the 3rd quarter valued at about $46,000. Barclays PLC boosted its stake in Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company's stock valued at $2,327,000 after purchasing an additional 20,125 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Doximity in the 3rd quarter valued at $24,691,000. Franklin Resources Inc. increased its position in Doximity by 564.1% during the 3rd quarter. Franklin Resources Inc. now owns 83,098 shares of the company's stock worth $3,487,000 after buying an additional 70,585 shares during the period. Finally, American Trust bought a new stake in shares of Doximity in the third quarter valued at about $247,000. 87.19% of the stock is currently owned by institutional investors.

Doximity Trading Up 0.7 %

Doximity stock traded up $0.38 during mid-day trading on Friday, reaching $56.67. The company had a trading volume of 1,364,010 shares, compared to its average volume of 1,992,882. The business has a fifty day simple moving average of $60.70 and a 200 day simple moving average of $56.28. The company has a market cap of $10.58 billion, a P/E ratio of 56.67, a P/E/G ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $85.21.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DOCS has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a research report on Friday, February 7th. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $31.00 to $78.00 in a research note on Friday, February 7th. The Goldman Sachs Group raised their price objective on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Eleven equities research 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. According to MarketBeat, Doximity has an average rating of "Moderate Buy" and a consensus price target of $65.39.

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.