Sequoia Financial Advisors LLC Buys New Holdings in Doximity, Inc. (NASDAQ:DOCS)

Sequoia Financial Advisors LLC bought a new stake in Doximity, Inc. (NASDAQ:DOCS) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,289 shares of the company’s stock, valued at approximately $282,000.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC raised its stake in Doximity by 14.5% during the fourth quarter. HighTower Advisors LLC now owns 28,684 shares of the company’s stock worth $1,531,000 after acquiring an additional 3,630 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in Doximity during the fourth quarter worth $196,000. Moran Wealth Management LLC acquired a new position in Doximity during the fourth quarter worth $3,306,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Doximity by 31.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,879 shares of the company’s stock worth $1,649,000 after acquiring an additional 7,351 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in Doximity by 213.2% during the fourth quarter. AlphaQuest LLC now owns 4,529 shares of the company’s stock worth $242,000 after acquiring an additional 3,083 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on DOCS shares. Needham & Company LLC increased their price objective on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Bank of America increased their target price on Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Leerink Partners raised Doximity from a “market perform” rating to an “outperform” rating and increased their target price for the company from $60.00 to $90.00 in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their price target on Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. 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. According to data from MarketBeat.com, Doximity has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Doximity Trading Up 2.2 %

Shares of NASDAQ DOCS opened at $62.68 on Thursday. The firm has a market cap of $11.70 billion, a P/E ratio of 62.68, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21. The business’s 50 day moving average is $64.04 and its 200-day moving average is $53.14.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction 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 trade represents a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.40% of the stock is owned by corporate insiders.

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.