New York State Teachers Retirement System Acquires 8,934 Shares of Doximity, Inc. (NASDAQ:DOCS)

New York State Teachers Retirement System lifted its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,067 shares of the company’s stock after purchasing an additional 8,934 shares during the quarter. New York State Teachers Retirement System owned 0.05% of Doximity worth $5,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Doximity by 69.1% during the fourth quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after acquiring an additional 235 shares during the period. Farther Finance Advisors LLC boosted its holdings in Doximity by 324.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares during the period. Morse Asset Management Inc bought a new stake in Doximity in the 3rd quarter valued at about $46,000. Covestor Ltd raised its position in shares of Doximity by 441.9% in the 3rd quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $73,000 after buying an additional 1,370 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Doximity by 20.6% in the 4th 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. 87.19% of the stock is owned by institutional investors.

Doximity Trading Down 2.1 %

DOCS stock opened at $75.10 on Friday. The firm has a 50 day moving average of $59.79 and a 200-day moving average of $48.73. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21. The firm has a market capitalization of $14.02 billion, a P/E ratio of 75.10, a price-to-earnings-growth ratio of 4.26 and a beta of 1.39.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the firm’s 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 transaction, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Raymond James reiterated an “outperform” rating and set a $83.00 price objective (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Needham & Company LLC upped their price objective on shares of Doximity from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Leerink Partnrs raised shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. The Goldman Sachs Group upped their price objective on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, KeyCorp lowered their target price on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.