676,000 Shares in Doximity, Inc. (NASDAQ:DOCS) Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC bought a new stake in Doximity, Inc. (NASDAQ:DOCS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 676,000 shares of the company’s stock, valued at approximately $29,453,000. Lord Abbett & CO. LLC owned 0.36% of Doximity as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DOCS. Farther Finance Advisors LLC increased its position in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares during the last quarter. Blue Trust Inc. increased its holdings in Doximity by 621.4% during the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares during the last quarter. Quarry LP raised its position in Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the period. Morse Asset Management Inc purchased a new position in shares of Doximity during the 3rd quarter worth $46,000. Finally, First Horizon Advisors Inc. grew its position in shares of Doximity by 80.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after acquiring an additional 760 shares during the period. Institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of DOCS opened at $52.14 on Monday. The business’s 50 day simple moving average is $48.05 and its 200-day simple moving average is $38.01. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 59.93, a price-to-earnings-growth ratio of 4.16 and a beta of 1.40.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Canaccord Genuity Group reissued a “hold” rating and set a $60.00 price target (up previously from $40.00) on shares of Doximity in a report on Wednesday, November 13th. Truist Financial lifted their price target on shares of Doximity from $35.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Canaccord Genuity Group downgraded shares of Doximity from a “buy” rating to a “hold” rating and raised their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Bank of America upped their target price on shares of Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, The Goldman Sachs Group assumed coverage on Doximity in a report on Friday, November 15th. They set a “neutral” rating and a $58.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.44.

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.