Securian Asset Management Inc. Trims Stake in Doximity, Inc. (NASDAQ:DOCS)

Securian Asset Management Inc. cut its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,971 shares of the company’s stock after selling 603 shares during the period. Securian Asset Management Inc.’s holdings in Doximity were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in DOCS. Raymond James Financial Services Advisors Inc. lifted its stake in Doximity by 190.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 18,269 shares of the company’s stock worth $388,000 after acquiring an additional 11,985 shares during the period. California Public Employees Retirement System lifted its position in shares of Doximity by 61.1% in the 3rd quarter. California Public Employees Retirement System now owns 204,163 shares of the company’s stock worth $4,332,000 after purchasing an additional 77,456 shares during the period. NBC Securities Inc. bought a new position in shares of Doximity during the third quarter valued at approximately $314,000. Ieq Capital LLC increased its holdings in Doximity by 0.6% during the third quarter. Ieq Capital LLC now owns 99,539 shares of the company’s stock valued at $2,112,000 after buying an additional 573 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Doximity by 46.3% during the third quarter. Victory Capital Management Inc. now owns 27,083 shares of the company’s stock valued at $575,000 after buying an additional 8,575 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 target price for the company in a report on Thursday, April 25th. Wells Fargo & Company upped their price objective on Doximity from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Doximity in a research report on Friday, May 17th. SVB Leerink began coverage on shares of Doximity in a report on Monday, February 26th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, Evercore ISI raised their price target on shares of Doximity from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.73.

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $27.22, for a total transaction of $68,050.00. Following the sale, the director now directly owns 10,258 shares of the company’s stock, valued at $279,222.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $27.22, for a total value of $68,050.00. Following the completion of the transaction, the director now directly owns 10,258 shares in the company, valued at $279,222.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Overpeck sold 1,500 shares of Doximity stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.85, for a total value of $35,775.00. Following the sale, the insider now directly owns 108,609 shares of the company’s stock, valued at approximately $2,590,324.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,500 shares of company stock valued at $171,250. Insiders own 39.40% of the company’s stock.

Doximity Stock Down 2.2 %

DOCS stock opened at $27.41 on Friday. The stock has a market capitalization of $5.11 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 5.05 and a beta of 1.18. Doximity, Inc. has a 52 week low of $19.71 and a 52 week high of $36.29. The firm has a 50 day moving average of $25.68 and a 200 day moving average of $26.63.

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.