Doximity, Inc. (NASDAQ:DOCS) Stock Position Lifted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 348.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,972 shares of the company's stock after acquiring an additional 6,195 shares during the period. Tower Research Capital LLC TRC's holdings in Doximity were worth $426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DOCS. Morse Asset Management Inc bought a new position in Doximity during the third quarter worth $46,000. Barclays PLC boosted its holdings in shares of 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 buying an additional 20,125 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Doximity during the 3rd quarter valued at about $24,691,000. Franklin Resources Inc. raised its stake in Doximity by 564.1% during the third quarter. Franklin Resources Inc. now owns 83,098 shares of the company's stock worth $3,487,000 after acquiring an additional 70,585 shares during the period. Finally, American Trust bought a new position in Doximity in the third quarter worth about $247,000. Institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DOCS shares. Wells Fargo & Company reiterated an "equal weight" rating on shares of Doximity in a research report on Friday, February 7th. Truist Financial lowered their price objective on Doximity from $65.00 to $58.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Morgan Stanley cut their target price on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Piper Sandler upgraded shares of Doximity from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Finally, Leerink Partnrs upgraded shares of Doximity from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Doximity has an average rating of "Moderate Buy" and an average price target of $65.39.

Doximity Stock Performance

Shares of DOCS stock traded up $0.33 during mid-day trading on Monday, hitting $59.66. 519,279 shares of the stock traded hands, compared to its average volume of 1,998,595. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 59.67, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The company's 50-day simple moving average is $59.10 and its 200-day simple moving average is $56.78. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21.

Insider Buying and Selling

In other news, CFO Anna Bryson sold 45,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This represents a 11.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was 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 represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is owned by corporate insiders.

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.