KLP Kapitalforvaltning AS Invests $2.26 Million in Doximity, Inc. (NASDAQ:DOCS)

KLP Kapitalforvaltning AS acquired a new stake in Doximity, Inc. (NASDAQ:DOCS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 42,300 shares of the company’s stock, valued at approximately $2,258,000.

Other hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its stake in Doximity by 0.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,700 shares of the company’s stock valued at $1,586,000 after acquiring an additional 200 shares during the period. UMB Bank n.a. grew its position in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after purchasing an additional 235 shares during the period. Fielder Capital Group LLC increased its stake in Doximity by 4.5% during the 4th quarter. Fielder Capital Group LLC now owns 5,488 shares of the company’s stock worth $293,000 after purchasing an additional 235 shares in the last quarter. Larson Financial Group LLC raised its holdings in Doximity by 49.4% during 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. Finally, GAMMA Investing LLC lifted its stake in Doximity by 20.6% in the fourth quarter. GAMMA Investing LLC now owns 1,735 shares of the company’s stock valued at $93,000 after buying an additional 296 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOCS. The Goldman Sachs Group increased 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. Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $90.00 in a report on Friday, February 7th. Leerink Partnrs upgraded Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Doximity Price Performance

DOCS stock opened at $60.59 on Friday. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $85.21. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 60.59, a PEG ratio of 4.10 and a beta of 1.34. The business’s fifty day moving average price is $65.39 and its two-hundred day moving average price is $54.15.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity 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 sale, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.