Cresset Asset Management LLC Increases Stake in Doximity, Inc. (NASDAQ:DOCS)

Cresset Asset Management LLC increased its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,732 shares of the company's stock after acquiring an additional 12,538 shares during the period. Cresset Asset Management LLC's holdings in Doximity were worth $3,456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. increased its holdings in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock worth $31,000 after acquiring an additional 235 shares during the last quarter. 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 acquiring an additional 250 shares during the period. Optimum Investment Advisors purchased a new stake in Doximity during the fourth quarter valued at about $43,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Doximity in the fourth quarter worth about $50,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Stock Up 3.2%

Shares of NASDAQ DOCS traded up $1.92 during midday trading on Monday, reaching $61.11. 3,818,108 shares of the company's stock traded hands, compared to its average volume of 2,023,487. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 61.11, a P/E/G ratio of 4.10 and a beta of 1.41. The stock's 50 day simple moving average is $57.99 and its 200-day simple moving average is $57.36. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the transaction, the director now directly owns 16,618 shares of the company's stock, valued at $946,062.74. This represents a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. 37.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DOCS has been the subject of several analyst reports. Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Needham & Company LLC raised their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Raymond James reaffirmed an "outperform" rating and set a $83.00 target price (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Mizuho increased their target price on shares of Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Truist Financial reduced their price target on shares of Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Eleven equities research 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 currently has an average rating of "Moderate Buy" and a consensus target price 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.