Principal Financial Group Inc. Decreases Position in Doximity, Inc. (NASDAQ:DOCS)

Principal Financial Group Inc. lowered its stake in shares of Doximity, Inc. (NASDAQ:DOCS – Get Rating) by 10.0% in the 4th quarter, HoldingsChannel reports. The firm owned 614,637 shares of the company’s stock after selling 68,602 shares during the quarter. Principal Financial Group Inc.’s holdings in Doximity were worth $20,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. James Investment Research Inc. bought a new position in Doximity in the 4th quarter worth approximately $27,000. Signaturefd LLC boosted its holdings in Doximity by 98.1% in the 3rd quarter. Signaturefd LLC now owns 1,050 shares of the company’s stock worth $32,000 after buying an additional 520 shares during the period. American International Group Inc. bought a new position in Doximity in the 2nd quarter worth approximately $43,000. HBK Sorce Advisory LLC boosted its holdings in Doximity by 100.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 40,000 shares of the company’s stock valued at $46,000 after purchasing an additional 20,000 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in Doximity in the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DOCS. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Doximity in a report on Friday, February 10th. Canaccord Genuity Group cut their price target on shares of Doximity from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, February 10th. Wells Fargo & Company downgraded shares of Doximity from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $39.00 to $37.00 in a report on Monday, May 1st. Piper Sandler raised their price target on shares of Doximity from $35.00 to $38.00 in a report on Friday, February 10th. Finally, Evercore ISI cut their price target on shares of Doximity from $33.00 to $32.00 in a report on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.00.

Doximity Stock Down 3.8 %

Doximity stock opened at $32.04 on Monday. The company has a market capitalization of $6.20 billion, a PE ratio of 61.62, a P/E/G ratio of 6.65 and a beta of 0.87. The firm has a fifty day simple moving average of $33.36 and a two-hundred day simple moving average of $33.22. Doximity, Inc. has a twelve month low of $22.91 and a twelve month high of $47.46.

Insider Activity

In other news, Director Timothy S. Cabral sold 7,500 shares of the company’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $35.00, for a total transaction of $262,500.00. Following the completion of the transaction, the director now directly owns 4,714 shares of the company’s stock, valued at $164,990. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 45.21% of the company’s stock.

Doximity Company Profile

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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.