Prosperity Wealth Management Inc. Sells 3,935 Shares of Doximity, Inc. (NASDAQ:DOCS)

Prosperity Wealth Management Inc. reduced its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 42.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,315 shares of the company’s stock after selling 3,935 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in Doximity were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Wealthfront Advisers LLC bought a new stake in shares of Doximity during the 4th quarter worth $196,000. Moran Wealth Management LLC bought a new stake in shares of Doximity during the 4th quarter worth $3,306,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Doximity by 31.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,879 shares of the company’s stock worth $1,649,000 after acquiring an additional 7,351 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Doximity by 213.2% during the 4th quarter. AlphaQuest LLC now owns 4,529 shares of the company’s stock worth $242,000 after acquiring an additional 3,083 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Insider Activity 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 shares were sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the transaction, the director now owns 6,360 shares in the company, valued at $366,463.20. The trade was a 75.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.40% of the stock is owned by corporate insiders.

Doximity Trading Up 4.0 %

DOCS stock opened at $64.16 on Thursday. The firm’s 50-day moving average price is $63.32 and its two-hundred day moving average price is $52.25. Doximity, Inc. has a 12-month low of $22.96 and a 12-month high of $85.21. The stock has a market capitalization of $11.98 billion, a price-to-earnings ratio of 64.16, a PEG ratio of 4.10 and a beta of 1.34.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of Doximity from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Raymond James reiterated an “outperform” rating and issued a $83.00 target price (up previously from $65.00) on shares of Doximity in a research report on Friday, February 7th. Leerink Partnrs upgraded shares of Doximity from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 7th. KeyCorp decreased their target price on shares of Doximity from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Doximity currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Doximity Company 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.