Doximity Target of Unusually Large Options Trading (NASDAQ:DOCS)

Doximity, Inc. (NASDAQ:DOCS) was the target of unusually large options trading on Monday. Stock traders bought 3,211 call options on the stock. This represents an increase of approximately 57% compared to the typical daily volume of 2,050 call options.

Hedge Funds Weigh In On Doximity

Several institutional investors have recently bought and sold shares of DOCS. William Blair Investment Management LLC purchased a new position in shares of Doximity in the 1st quarter valued at about $148,823,000. Swedbank AB acquired a new position in Doximity during the first quarter worth approximately $91,673,000. Capital World Investors increased its position in Doximity by 250.7% during the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after buying an additional 1,225,707 shares during the period. Los Angeles Capital Management LLC increased its position in Doximity by 6,242.6% during 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. Finally, Janus Henderson Group PLC increased its position in Doximity by 33.5% during the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after buying an additional 621,590 shares during the period. 87.19% of the stock is owned by institutional investors and hedge funds.

Doximity Price Performance

NASDAQ DOCS opened at $61.25 on Tuesday. The company has a market cap of $11.37 billion, a P/E ratio of 70.40, a P/E/G ratio of 7.00 and a beta of 1.30. The stock has a 50-day moving average of $42.04 and a two-hundred day moving average of $33.44. Doximity has a 1-year low of $22.96 and a 1-year high of $61.75.

Analyst Ratings Changes

Several research firms have commented on DOCS. JPMorgan Chase & Co. upped their price objective on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Friday, August 9th. Baird R W upgraded Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Evercore ISI increased their target price on Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Finally, Raymond James restated an “outperform” rating and issued a $65.00 price objective (up previously from $37.00) on shares of Doximity in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and an average target price of $45.69.

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.