Van ECK Associates Corp Purchases 388 Shares of Doximity, Inc. (NASDAQ:DOCS)

Van ECK Associates Corp increased its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 19.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,352 shares of the company’s stock after purchasing an additional 388 shares during the quarter. Van ECK Associates Corp’s holdings in Doximity were worth $126,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of Doximity by 69.1% during 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 last quarter. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% during 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 last quarter. Morse Asset Management Inc bought a new position in shares of Doximity during the 3rd quarter valued at approximately $46,000. Covestor Ltd boosted its holdings in Doximity by 441.9% during the 3rd quarter. Covestor Ltd now owns 1,680 shares of the company’s stock valued at $73,000 after acquiring an additional 1,370 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Doximity by 22.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,094 shares of the company’s stock valued at $91,000 after acquiring an additional 384 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated 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. This represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.40% of the company’s stock.

Doximity Stock Performance

Shares of DOCS stock opened at $72.25 on Monday. The stock’s 50-day simple moving average is $60.19 and its 200-day simple moving average is $49.38. The firm has a market capitalization of $13.49 billion, a PE ratio of 72.25, a P/E/G ratio of 4.10 and a beta of 1.39. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $85.21.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DOCS. Canaccord Genuity Group boosted their price objective on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a report 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 report on Monday, February 10th. Raymond James restated an “outperform” rating and set a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $78.00 in a report on Friday, February 7th. Finally, Truist Financial upped their target price on Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.22.

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.