West Michigan Advisors LLC Invests $306,000 in Doximity, Inc. (NASDAQ:DOCS)

West Michigan Advisors LLC bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,740 shares of the company’s stock, valued at approximately $306,000.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Doximity by 30.5% in the third quarter. FMR LLC now owns 6,837,733 shares of the company’s stock valued at $297,920,000 after purchasing an additional 1,598,602 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Doximity in the third quarter worth $29,453,000. Los Angeles Capital Management LLC increased its stake in shares of Doximity by 6,242.6% in the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock worth $28,359,000 after buying an additional 640,612 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Doximity during the 3rd quarter valued at $24,691,000. Finally, Geode Capital Management LLC boosted its position in Doximity by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company’s stock valued at $124,503,000 after buying an additional 472,565 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Activity at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now owns 6,360 shares in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.40% of the stock is currently owned by corporate insiders.

Doximity Stock Performance

Shares of Doximity stock opened at $70.44 on Friday. The company has a fifty day moving average of $61.91 and a 200 day moving average of $50.61. The company has a market capitalization of $13.15 billion, a P/E ratio of 70.44, a P/E/G ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $85.21.

Wall Street Analysts Forecast Growth

DOCS has been the topic of several recent analyst reports. Mizuho raised their target price on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America lifted their price objective on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $33.00 to $53.00 in a report on Thursday, November 14th. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Barclays upped their price objective on shares of Doximity from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Doximity presently has an average rating of “Moderate Buy” and an average target price of $64.22.

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.