Entropy Technologies LP Purchases 9,467 Shares of Doximity, Inc. (NASDAQ:DOCS)

Entropy Technologies LP grew its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 162.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,302 shares of the company’s stock after buying an additional 9,467 shares during the quarter. Entropy Technologies LP’s holdings in Doximity were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DOCS. Fountainhead AM LLC purchased a new stake in Doximity during the 3rd quarter valued at $710,000. Penserra Capital Management LLC purchased a new stake in Doximity during the 3rd quarter valued at $2,384,000. Los Angeles Capital Management LLC lifted its holdings in Doximity by 6,242.6% in the third quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after acquiring an additional 640,612 shares during the period. Barclays PLC lifted its stake in shares of Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock worth $2,327,000 after purchasing an additional 20,125 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in Doximity by 139.2% in the third quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock worth $1,553,000 after acquiring an additional 20,740 shares during the period. Institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DOCS. Stephens started coverage on Doximity in a research report on Friday, December 20th. They set an “equal weight” rating and a $55.00 price objective on the stock. KeyCorp decreased their price target on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $31.00 to $78.00 in a research report on Friday, February 7th. Bank of America boosted their target price on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised their price target on Doximity from $43.00 to $55.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Doximity Trading Down 9.9 %

Shares of NASDAQ:DOCS opened at $74.91 on Wednesday. Doximity, Inc. has a 12 month low of $22.96 and a 12 month high of $85.21. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 74.91, a PEG ratio of 4.61 and a beta of 1.39. The firm’s 50-day moving average is $56.61 and its 200 day moving average is $46.63.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 37.40% of the company’s stock.

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.