Geode Capital Management LLC Acquires 472,565 Shares of Doximity, Inc. (NASDAQ:DOCS)

Geode Capital Management LLC grew its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 19.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,856,984 shares of the company’s stock after purchasing an additional 472,565 shares during the quarter. Geode Capital Management LLC’s holdings in Doximity were worth $124,503,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DOCS. Fountainhead AM LLC acquired a new position in Doximity during the 3rd quarter worth approximately $710,000. Penserra Capital Management LLC acquired a new position in shares of Doximity during the third quarter worth approximately $2,384,000. Federated Hermes Inc. lifted its holdings in shares of Doximity by 1,824.5% in the 2nd quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock worth $7,821,000 after purchasing an additional 265,104 shares in the last quarter. AXA S.A. lifted its holdings in shares of Doximity by 40.2% in the 2nd quarter. AXA S.A. now owns 216,392 shares of the company’s stock worth $6,052,000 after purchasing an additional 61,992 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Doximity by 15,714.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock valued at $310,000 after purchasing an additional 11,000 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS stock opened at $52.71 on Wednesday. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 60.58, a P/E/G ratio of 4.16 and a beta of 1.40. Doximity, Inc. has a 52 week low of $22.96 and a 52 week high of $61.75. The firm’s 50-day simple moving average is $48.41 and its two-hundred day simple moving average is $38.36.

Analyst Upgrades and Downgrades

DOCS has been the topic of several research reports. Canaccord Genuity Group restated a “hold” rating and set a $60.00 price objective (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Bank of America raised their price target on shares of Doximity from $32.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Evercore ISI increased their price objective on Doximity from $34.00 to $45.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Baird R W raised Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group initiated coverage on Doximity in a research report on Friday, November 15th. They issued a “neutral” rating and a $58.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.44.

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.