Doximity, Inc. (NASDAQ:DOCS) Shares Bought by M&T Bank Corp

M&T Bank Corp boosted its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,601 shares of the company’s stock after buying an additional 543 shares during the period. M&T Bank Corp’s holdings in Doximity were worth $459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Shaker Investments LLC OH acquired a new position in shares of Doximity in the 4th quarter valued at $559,000. Penserra Capital Management LLC acquired a new position in shares of Doximity in the 3rd quarter valued at $2,384,000. Principal Financial Group Inc. lifted its stake in shares of Doximity by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock valued at $15,695,000 after purchasing an additional 4,282 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Doximity in the 4th quarter valued at $362,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Doximity in the 4th quarter valued at $203,000. Institutional investors and hedge funds 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 owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 37.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DOCS. Stephens began coverage on Doximity in a report on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Raymond James reiterated an “outperform” rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a report on Friday, February 7th. Morgan Stanley upgraded Doximity from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $33.00 to $53.00 in a report on Thursday, November 14th. Bank of America boosted their price objective on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price objective on Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Doximity Stock Performance

DOCS opened at $60.81 on Friday. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21. The company has a market cap of $11.35 billion, a P/E ratio of 60.81, a PEG ratio of 4.10 and a beta of 1.34. The business’s 50-day simple moving average is $63.47 and its 200-day simple moving average is $52.31.

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.