Victory Capital Management Inc. Sells 1,411 Shares of Doximity, Inc. (NASDAQ:DOCS)

Victory Capital Management Inc. reduced its position in Doximity, Inc. (NASDAQ:DOCS) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,500 shares of the company’s stock after selling 1,411 shares during the period. Victory Capital Management Inc.’s holdings in Doximity were worth $1,460,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fountainhead AM LLC bought a new position in Doximity in the 3rd quarter valued at about $710,000. Federated Hermes Inc. boosted its position in shares of Doximity by 1,824.5% during the second quarter. Federated Hermes Inc. now owns 279,634 shares of the company’s stock valued at $7,821,000 after buying an additional 265,104 shares during the last quarter. AXA S.A. grew its holdings in Doximity by 40.2% during the second quarter. AXA S.A. now owns 216,392 shares of the company’s stock worth $6,052,000 after buying an additional 61,992 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Doximity by 15,714.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,070 shares of the company’s stock valued at $310,000 after buying an additional 11,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Doximity by 6,242.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 650,874 shares of the company’s stock valued at $28,359,000 after buying an additional 640,612 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of NASDAQ DOCS opened at $48.75 on Tuesday. Doximity, Inc. has a fifty-two week low of $22.96 and a fifty-two week high of $61.75. The stock has a market cap of $9.10 billion, a PE ratio of 56.03, a price-to-earnings-growth ratio of 3.91 and a beta of 1.30. The stock has a fifty day moving average of $44.83 and a 200-day moving average of $35.34.

Analysts Set New Price Targets

DOCS has been the subject of several analyst reports. Raymond James reiterated an “outperform” rating and issued a $65.00 target price (up previously from $37.00) on shares of Doximity in a report on Friday, November 8th. Evercore ISI increased their price objective on shares of Doximity from $34.00 to $45.00 and gave the company an “in-line” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group initiated coverage on Doximity in a research note on Friday, November 15th. They issued a “neutral” rating and a $58.00 target price on the stock. KeyCorp raised Doximity from a “sector weight” rating to an “overweight” rating and set a $70.00 price target for the company in a research report on Friday, November 8th. Finally, Bank of America boosted their price objective on Doximity from $32.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Eleven 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.27.

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.