Optimum Investment Advisors Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Optimum Investment Advisors purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 800 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds also recently modified their holdings of the company. Shaker Investments LLC OH acquired a new stake in shares of Doximity during the 4th quarter worth about $559,000. Penserra Capital Management LLC acquired a new stake in shares of Doximity during the 3rd quarter worth about $2,384,000. Principal Financial Group Inc. boosted its stake in shares of Doximity by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after purchasing an additional 4,282 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Doximity during the 4th quarter worth about $362,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Doximity during the 4th quarter worth about $203,000. 87.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DOCS shares. The Goldman Sachs Group raised their target price on shares of Doximity from $58.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Stephens started coverage on shares of Doximity in a research report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 target price on the stock. Leerink Partners raised shares of Doximity from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $90.00 in a research report on Friday, February 7th. Finally, Bank of America raised their target price on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

Insider Activity

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the sale, the director now owns 6,360 shares in the company, valued at $366,463.20. This trade represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 37.40% of the company’s stock.

Doximity Stock Up 0.4 %

DOCS opened at $63.01 on Monday. The firm has a market capitalization of $11.76 billion, a P/E ratio of 63.01, a P/E/G ratio of 4.10 and a beta of 1.34. The firm’s 50 day moving average is $64.42 and its 200-day moving average is $53.63. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21.

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.