Empowered Funds LLC Invests $3.01 Million in Doximity, Inc. (NASDAQ:DOCS)

Empowered Funds LLC bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 56,357 shares of the company’s stock, valued at approximately $3,009,000.

Several other hedge funds have also modified their holdings of DOCS. Joel Isaacson & Co. LLC acquired a new stake in Doximity during the 4th quarter worth about $267,000. Lecap Asset Management Ltd. increased its position in shares of Doximity by 235.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 38,940 shares of the company’s stock worth $2,079,000 after acquiring an additional 27,341 shares in the last quarter. Fairvoy Private Wealth LLC acquired a new stake in shares of Doximity during the fourth quarter valued at approximately $995,000. Silver Oak Securities Incorporated purchased a new stake in shares of Doximity in the 4th quarter valued at approximately $314,000. Finally, State of Alaska Department of Revenue boosted its stake in Doximity by 2.6% in the 4th quarter. State of Alaska Department of Revenue now owns 14,610 shares of the company’s stock worth $780,000 after purchasing an additional 370 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Trading Up 2.0 %

NASDAQ:DOCS opened at $76.68 on Friday. The firm has a market capitalization of $14.31 billion, a PE ratio of 76.68, a PEG ratio of 4.61 and a beta of 1.39. Doximity, Inc. has a 1 year low of $22.96 and a 1 year high of $85.21. The firm’s fifty day simple moving average is $57.46 and its 200 day simple moving average is $47.03.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DOCS. Bank of America upped their price target on Doximity from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Doximity from $43.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Morgan Stanley raised shares of Doximity from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $33.00 to $53.00 in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, Raymond James restated an “outperform” rating and set a $83.00 price target (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.22.

Insider Buying and Selling at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the completion of the transaction, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 37.40% of the company’s stock.

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.