William Blair Investment Management LLC Sells 244,283 Shares of Doximity, Inc. (NASDAQ:DOCS)

William Blair Investment Management LLC lessened its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,225,933 shares of the company’s stock after selling 244,283 shares during the period. Doximity makes up about 0.8% of William Blair Investment Management LLC’s portfolio, making the stock its 18th largest holding. William Blair Investment Management LLC owned approximately 3.33% of Doximity worth $332,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its position in Doximity by 139.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,635 shares of the company’s stock worth $1,553,000 after purchasing an additional 20,740 shares in the last quarter. KBC Group NV increased its position in Doximity by 22.9% in the 3rd quarter. KBC Group NV now owns 3,296 shares of the company’s stock valued at $144,000 after acquiring an additional 614 shares during the period. Natixis Advisors LLC increased its position in Doximity by 43.5% in the 3rd quarter. Natixis Advisors LLC now owns 31,815 shares of the company’s stock valued at $1,386,000 after acquiring an additional 9,644 shares during the period. Thrivent Financial for Lutherans increased its position in Doximity by 5.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 30,991 shares of the company’s stock valued at $1,350,000 after acquiring an additional 1,474 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in Doximity in the 3rd quarter valued at approximately $133,000. Institutional investors own 87.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Raymond James restated an “outperform” rating and issued a $83.00 price target (up from $65.00) on shares of Doximity in a research report on Friday, February 7th. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and upped their price target for the company from $31.00 to $78.00 in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Canaccord Genuity Group increased their price objective on shares of Doximity from $60.00 to $71.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Finally, Bank of America increased their price objective 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Doximity Stock Performance

NASDAQ DOCS opened at $63.33 on Monday. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21. The company has a 50-day simple moving average of $63.63 and a 200 day simple moving average of $52.72. The company has a market capitalization of $11.82 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of Doximity 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 completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 37.40% of the company’s stock.

Doximity Company 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.