Penserra Capital Management LLC Makes New $2.38 Million Investment in Doximity, Inc. (NASDAQ:DOCS)

Penserra Capital Management LLC purchased a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,732 shares of the company’s stock, valued at approximately $2,384,000.

Several other hedge funds have also made changes to their positions in DOCS. William Blair Investment Management LLC raised its stake in Doximity by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after purchasing an additional 873,682 shares during the period. Clearbridge Investments LLC boosted its position in Doximity by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock worth $163,709,000 after acquiring an additional 387,200 shares during the period. Swedbank AB purchased a new position in Doximity during the 1st quarter valued at about $91,673,000. Janus Henderson Group PLC increased its holdings in shares of Doximity by 33.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after purchasing an additional 621,590 shares during the period. Finally, Renaissance Technologies LLC lifted its position 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 purchasing an additional 301,100 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of DOCS opened at $48.75 on Tuesday. The company has a market capitalization 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. Doximity, Inc. has a one year low of $22.96 and a one year high of $61.75. The company’s fifty day moving average price is $44.83 and its 200 day moving average price is $35.34.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Needham & Company LLC raised shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Friday, August 9th. Baird R W upgraded Doximity to a “strong-buy” rating in a report on Tuesday, September 17th. Robert W. Baird boosted their target price on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Canaccord Genuity Group downgraded Doximity from a “buy” rating to a “hold” rating and raised their price target for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, Barclays lifted their price target on Doximity from $52.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Doximity presently has an average rating of “Hold” and an average price target 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.