Russell Investments Group Ltd. Acquires 24,375 Shares of Doximity, Inc. (NASDAQ:DOCS)

Russell Investments Group Ltd. grew its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 83.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,522 shares of the company's stock after acquiring an additional 24,375 shares during the quarter. Russell Investments Group Ltd.'s holdings in Doximity were worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Global Retirement Partners LLC raised its position in Doximity by 468.1% during the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after purchasing an additional 440 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after buying an additional 235 shares in the last quarter. Larson Financial Group LLC lifted its position in Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors bought a new position in Doximity during the fourth quarter valued at approximately $43,000. Finally, Morse Asset Management Inc purchased a new position in shares of Doximity during the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Price Performance

DOCS traded up $3.23 on Wednesday, hitting $55.63. The company had a trading volume of 696,579 shares, compared to its average volume of 2,399,958. The stock has a fifty day simple moving average of $62.00 and a 200-day simple moving average of $55.94. The firm has a market capitalization of $10.39 billion, a P/E ratio of 55.63, a P/E/G 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.

Analysts Set New Price Targets

DOCS has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Doximity in a research note on Friday, February 7th. Mizuho raised their price objective on Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Raymond James reiterated an "outperform" rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Canaccord Genuity Group increased their target price on Doximity from $60.00 to $71.00 and gave the company a "hold" rating in a report on Friday, February 7th. Finally, Leerink Partners raised Doximity from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $60.00 to $90.00 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Insider Transactions at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total value of $1,152,400.00. Following the sale, the director now directly owns 6,360 shares of the company's stock, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.40% of the company's stock.

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.