Bryce Point Capital LLC Makes New $591,000 Investment in Doximity, Inc. (NASDAQ:DOCS)

Bryce Point Capital LLC purchased a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,071 shares of the company’s stock, valued at approximately $591,000.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Doximity by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,001 shares of the company’s stock valued at $32,808,000 after purchasing an additional 31,966 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Doximity by 0.6% during the 3rd quarter. MetLife Investment Management LLC now owns 65,064 shares of the company’s stock valued at $2,835,000 after acquiring an additional 363 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Doximity by 7.8% in the third quarter. Verition Fund Management LLC now owns 42,812 shares of the company’s stock worth $1,865,000 after acquiring an additional 3,088 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Doximity during the third quarter valued at approximately $137,000. Finally, Integrated Wealth Concepts LLC bought a new position in Doximity during the third quarter valued at approximately $308,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 6,360 shares of the company’s stock, valued at $366,463.20. This represents a 75.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 37.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOCS has been the subject of a number of research reports. Piper Sandler upgraded shares of Doximity from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $78.00 in a research note on Friday, February 7th. The Goldman Sachs Group boosted their price objective on shares of Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Doximity in a report on Friday, February 7th. Leerink Partnrs raised Doximity from a “hold” rating to a “strong-buy” rating in a report on Friday, February 7th. Finally, Stephens started coverage on Doximity in a research note on Friday, December 20th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Eleven 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. According to data from MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Doximity Trading Up 2.2 %

NASDAQ:DOCS opened at $57.96 on Thursday. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 57.96, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a twelve month low of $22.96 and a twelve month high of $85.21. The stock has a fifty day simple moving average of $65.63 and a 200-day simple moving average of $54.84.

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.