T. Rowe Price Investment Management Inc. Sells 505,185 Shares of Doximity, Inc. (NASDAQ:DOCS)

T. Rowe Price Investment Management Inc. reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,075,741 shares of the company's stock after selling 505,185 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.65% of Doximity worth $164,214,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DOCS. Global Retirement Partners LLC grew its stake in Doximity by 468.1% in the fourth 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. boosted 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 grew its position in shares of 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 period. Optimum Investment Advisors bought a new position in shares of Doximity in the 4th quarter worth about $43,000. Finally, Morse Asset Management Inc purchased a new position in Doximity during the 3rd quarter valued at about $46,000. 87.19% of the stock is currently owned by institutional investors.

Insider Activity at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.40% of the stock is owned by company insiders.

Doximity Stock Down 2.1 %

DOCS traded down $1.22 during mid-day trading on Wednesday, reaching $56.53. 517,547 shares of the company traded hands, compared to its average volume of 1,986,087. The stock has a market capitalization of $10.55 billion, a P/E ratio of 56.53, 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. The company's fifty day moving average price is $59.95 and its 200-day moving average price is $56.38.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DOCS shares. Bank of America raised their target price on shares of Doximity from $54.00 to $57.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Piper Sandler upgraded Doximity from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $31.00 to $78.00 in a research note on Friday, February 7th. The Goldman Sachs Group increased their target price on Doximity from $58.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. KeyCorp lowered their price target on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho increased their price objective on shares of Doximity from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.