Northern Trust Corp Increases Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Northern Trust Corp increased its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,459,185 shares of the company's stock after acquiring an additional 125,332 shares during the period. Northern Trust Corp owned about 0.78% of Doximity worth $77,906,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DOCS. FMR LLC lifted its stake in Doximity by 37.6% in the fourth quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after purchasing an additional 2,571,580 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Doximity by 708.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock worth $80,641,000 after buying an additional 1,323,634 shares in the last quarter. Invesco Ltd. raised its position in shares of Doximity by 525.1% in the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock worth $67,934,000 after buying an additional 1,068,849 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Doximity by 1,178.3% in the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock worth $56,711,000 after buying an additional 979,113 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Doximity by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after buying an additional 485,102 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction 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. The trade was a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction that occurred on 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 of the company's stock, valued at $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 37.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DOCS. Mizuho increased their price objective on Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. The Goldman Sachs Group increased their price objective on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Canaccord Genuity Group increased their price objective on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Raymond James reissued an "outperform" rating and issued a $83.00 target price (up previously from $65.00) on shares of Doximity in a research note on Friday, February 7th. Finally, Leerink Partnrs raised Doximity from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $65.39.

Doximity Trading Down 0.4%

Shares of NASDAQ:DOCS traded down $0.25 on Friday, reaching $59.10. 1,772,024 shares of the company traded hands, compared to its average volume of 2,016,276. The stock has a market capitalization of $11.03 billion, a P/E ratio of 59.10, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The business's 50-day simple moving average is $57.99 and its 200 day simple moving average is $57.36.

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.