PDT Partners LLC Sells 9,012 Shares of Doximity, Inc. (NASDAQ:DOCS)

PDT Partners LLC trimmed its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 16.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,963 shares of the company's stock after selling 9,012 shares during the period. PDT Partners LLC's holdings in Doximity were worth $2,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new position in Doximity during the fourth quarter valued at about $726,000. AQR Capital Management LLC lifted its position in shares of Doximity by 1,702.9% during the 4th quarter. AQR Capital Management LLC now owns 423,011 shares of the company's stock valued at $22,585,000 after acquiring an additional 399,548 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Doximity by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,459,185 shares of the company's stock worth $77,906,000 after acquiring an additional 125,332 shares in the last quarter. Nebula Research & Development LLC bought a new stake in shares of Doximity during the 4th quarter worth $635,000. Finally, Oberweis Asset Management Inc. grew its holdings in shares of Doximity by 23.8% in the 4th quarter. Oberweis Asset Management Inc. now owns 573,100 shares of the company's stock worth $30,598,000 after acquiring an additional 110,000 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Stock Up 2.0 %

DOCS stock traded up $1.19 during midday trading on Friday, hitting $59.26. 1,434,828 shares of the company traded hands, compared to its average volume of 1,999,254. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 59.26, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The business has a 50 day simple moving average of $59.10 and a 200-day simple moving average of $56.60.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DOCS shares. Raymond James reiterated an "outperform" rating and issued a $83.00 price target (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Canaccord Genuity Group lifted their target price on shares of Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. KeyCorp reduced their price target on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Bank of America raised their target price on Doximity from $54.00 to $57.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.39.

Insider Activity at Doximity

In other news, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the transaction, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. The trade was a 11.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 20,000 shares of the company'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 directly owns 6,360 shares of the company's stock, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,000 shares of company stock worth $3,841,610. 37.40% of the stock is owned by 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.