Prosperity Wealth Management Inc. Decreases Stake in Doximity, Inc. (NASDAQ:DOCS)

Prosperity Wealth Management Inc. decreased its position in Doximity, Inc. (NASDAQ:DOCS) by 42.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,315 shares of the company’s stock after selling 3,935 shares during the period. Prosperity Wealth Management Inc.’s holdings in Doximity were worth $284,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after buying an additional 440 shares during the last quarter. UMB Bank n.a. increased its stake in Doximity by 69.1% in the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock valued at $31,000 after buying an additional 235 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Doximity by 324.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 789 shares of the company’s stock worth $34,000 after purchasing an additional 603 shares during the last quarter. Larson Financial Group LLC increased its stake 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 purchasing an additional 250 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of Doximity during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of NASDAQ:DOCS opened at $64.16 on Thursday. The firm has a fifty day moving average price of $63.32 and a two-hundred day moving average price of $52.25. Doximity, Inc. has a one year low of $22.96 and a one year high of $85.21. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 64.16, a PEG ratio of 4.10 and a beta of 1.34.

Insider Buying and Selling at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the completion of the transaction, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This trade represents a 75.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 37.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCS. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $90.00 in a research note on Friday, February 7th. Morgan Stanley upgraded shares of Doximity from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $33.00 to $53.00 in a research note on Thursday, November 14th. Needham & Company LLC raised their price target on shares of Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Doximity from $30.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Truist Financial raised their price target on shares of Doximity from $35.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

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.