Wealth Alliance Makes New Investment in Doximity, Inc. (NASDAQ:DOCS)

Wealth Alliance purchased a new stake in Doximity, Inc. (NASDAQ:DOCS) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,145 shares of the company’s stock, valued at approximately $221,000.

Several other large investors also recently made changes to their positions in DOCS. Global Retirement Partners LLC lifted its position in Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after acquiring an additional 440 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after purchasing an additional 235 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Doximity by 324.2% in the third quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock valued at $34,000 after purchasing an additional 603 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Doximity during the third quarter worth about $46,000. Finally, Covestor Ltd boosted its position in shares of Doximity by 441.9% during the third quarter. Covestor Ltd now owns 1,680 shares of the company’s stock worth $73,000 after buying an additional 1,370 shares during the period. Institutional investors own 87.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 20,000 shares of the 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 transaction, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This 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 can be accessed through this link. Company insiders own 37.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised Doximity from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. Raymond James reissued an “outperform” rating and issued a $83.00 price objective (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Barclays raised their target price on shares of Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Truist Financial boosted their price target on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group raised their price objective on Doximity from $60.00 to $71.00 and gave the company a “hold” rating in a report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

Doximity Trading Down 3.7 %

DOCS stock opened at $72.25 on Friday. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21. The business’s 50 day simple moving average is $60.19 and its 200 day simple moving average is $49.21. The firm has a market capitalization of $13.49 billion, a PE ratio of 72.25, a PEG ratio of 4.10 and a beta of 1.39.

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.