HBK Sorce Advisory LLC Boosts Stake in Doximity, Inc. (NASDAQ:DOCS)

Posted by Defense World Staff on May 20th, 2023

HBK Sorce Advisory LLC increased its position in shares of Doximity, Inc. (NASDAQ:DOCS – Get Rating) by 100.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. HBK Sorce Advisory LLC’s holdings in Doximity were worth $46,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Weiss Multi Strategy Advisers LLC increased its position in shares of Doximity by 6.9% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 4,810 shares of the company’s stock valued at $251,000 after acquiring an additional 310 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Doximity by 2.7% in the fourth quarter. Kestra Advisory Services LLC now owns 16,648 shares of the company’s stock valued at $559,000 after purchasing an additional 431 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Doximity by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 54,834 shares of the company’s stock valued at $1,840,000 after purchasing an additional 476 shares in the last quarter. CWM LLC grew its holdings in shares of Doximity by 34.1% in the fourth quarter. CWM LLC now owns 1,958 shares of the company’s stock valued at $66,000 after purchasing an additional 498 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Doximity by 98.1% in the third quarter. Signaturefd LLC now owns 1,050 shares of the company’s stock valued at $32,000 after purchasing an additional 520 shares in the last quarter. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

Doximity stock opened at $32.04 on Friday. Doximity, Inc. has a 52 week low of $22.91 and a 52 week high of $47.46. The firm has a market cap of $6.20 billion, a P/E ratio of 61.62, a P/E/G ratio of 14.31 and a beta of 0.87. The business’s fifty day moving average is $33.36 and its two-hundred day moving average is $33.11.

Insider Activity at Doximity

In other Doximity news, Director Timothy S. Cabral sold 7,500 shares of the stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $35.00, for a total value of $262,500.00. Following the completion of the sale, the director now directly owns 4,714 shares in the company, valued at $164,990. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Doximity from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, February 10th. Wells Fargo & Company lowered shares of Doximity from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $39.00 to $37.00 in a research report on Monday, May 1st. Evercore ISI decreased their price objective on shares of Doximity from $33.00 to $32.00 in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Doximity in a report on Friday, February 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Doximity from $60.00 to $30.00 and set an “underweight” rating on the stock in a report on Friday, February 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.00.

Doximity Company Profile

(Get Rating)

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.