Commerce Bank Invests $314,000 in Doximity, Inc. (NASDAQ:DOCS)

Commerce Bank acquired a new position in Doximity, Inc. (NASDAQ:DOCS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,215 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds have also recently made changes to their positions in the business. William Blair Investment Management LLC increased its stake in shares of Doximity by 15.8% in the second quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock worth $179,122,000 after buying an additional 873,682 shares during the period. Clearbridge Investments LLC increased its stake in shares of Doximity by 7.1% in the second quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after buying an additional 387,200 shares during the period. Swedbank AB purchased a new position in shares of Doximity in the first quarter worth $91,673,000. Renaissance Technologies LLC increased its stake in shares of Doximity by 23.1% in the second quarter. Renaissance Technologies LLC now owns 1,603,202 shares of the company’s stock worth $44,842,000 after buying an additional 301,100 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Doximity by 28.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,267,067 shares of the company’s stock worth $35,439,000 after buying an additional 281,239 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on DOCS shares. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Doximity from $30.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Wells Fargo & Company raised shares of Doximity from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $19.00 to $41.00 in a research report on Friday, November 8th. Finally, Evercore ISI boosted their price objective on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Eleven equities 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.27.

Doximity Price Performance

Shares of Doximity stock opened at $53.44 on Thursday. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 3.91 and a beta of 1.30. The firm’s 50-day moving average is $45.10 and its 200 day moving average is $35.55. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $61.75.

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.