Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Sumitomo Mitsui Trust Group Inc. lowered its position in Doximity, Inc. (NASDAQ:DOCS) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,445 shares of the company’s stock after selling 2,005 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Doximity were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DOCS. Sanctuary Advisors LLC purchased a new stake in Doximity in the second quarter worth approximately $270,000. Creative Planning boosted its stake in Doximity by 13.7% in the third quarter. Creative Planning now owns 22,104 shares of the company’s stock worth $963,000 after buying an additional 2,671 shares in the last quarter. nVerses Capital LLC boosted its stake in Doximity by 67.5% in the third quarter. nVerses Capital LLC now owns 12,900 shares of the company’s stock worth $562,000 after buying an additional 5,200 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in Doximity in the third quarter worth approximately $213,000. Finally, Trust Point Inc. boosted its stake in Doximity by 16.9% in the third quarter. Trust Point Inc. now owns 28,809 shares of the company’s stock worth $1,255,000 after buying an additional 4,163 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

DOCS has been the subject of several research reports. Leerink Partnrs raised Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Mizuho boosted their price objective on Doximity from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Canaccord Genuity Group boosted their price objective on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their price objective on Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 37.40% of the company’s stock.

Doximity Stock Up 0.2 %

DOCS stock opened at $77.13 on Friday. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The stock has a market cap of $14.40 billion, a P/E ratio of 77.13, a PEG ratio of 4.61 and a beta of 1.39. The business’s 50-day moving average price is $57.89 and its 200-day moving average price is $47.37.

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.