Charles Schwab Investment Management Inc. Increases Position in Doximity, Inc. (NASDAQ:DOCS)

Charles Schwab Investment Management Inc. raised its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 778,524 shares of the company’s stock after purchasing an additional 25,523 shares during the period. Charles Schwab Investment Management Inc. owned 0.42% of Doximity worth $41,565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in shares of Doximity by 2.0% in the fourth quarter. State of Michigan Retirement System now owns 30,300 shares of the company’s stock valued at $1,618,000 after purchasing an additional 600 shares during the period. Steward Partners Investment Advisory LLC grew its position in Doximity by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,269 shares of the company’s stock worth $121,000 after purchasing an additional 332 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Doximity during the 4th quarter valued at $207,000. SBI Securities Co. Ltd. bought a new stake in shares of Doximity during the 4th quarter worth about $4,207,000. Finally, West Michigan Advisors LLC bought a new position in Doximity during the 4th quarter valued at $306,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS stock opened at $63.33 on Friday. The company has a market capitalization of $11.82 billion, a P/E ratio of 63.33, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $85.21. The company’s 50 day moving average price is $63.63 and its two-hundred day moving average price is $52.60.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DOCS shares. Mizuho boosted their price objective on Doximity from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. KeyCorp cut their price objective on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Bank of America boosted their target price on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Finally, The Goldman Sachs Group boosted 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. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.22.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of the 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 completion of the sale, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 37.40% of the company’s stock.

Doximity 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.