Principal Financial Group Inc. Cuts Holdings in Doximity, Inc. (NASDAQ:DOCS)

Principal Financial Group Inc. trimmed its holdings in Doximity, Inc. (NASDAQ:DOCS) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 436,451 shares of the company’s stock after selling 28,353 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Doximity worth $12,238,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in shares of Doximity by 111.3% in the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock worth $28,000 after acquiring an additional 524 shares during the last quarter. GAMMA Investing LLC bought a new stake in Doximity during the 4th quarter valued at $40,000. Creative Financial Designs Inc. ADV raised its holdings in Doximity by 16.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,301 shares of the company’s stock valued at $93,000 after buying an additional 473 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Doximity during the 3rd quarter valued at $109,000. Finally, PNC Financial Services Group Inc. raised its holdings in Doximity by 16.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,500 shares of the company’s stock valued at $138,000 after buying an additional 925 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Performance

NASDAQ:DOCS opened at $27.83 on Friday. The firm has a market cap of $5.19 billion, a P/E ratio of 38.65, a P/E/G ratio of 4.93 and a beta of 1.18. Doximity, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $36.29. The firm has a 50-day simple moving average of $25.68 and a two-hundred day simple moving average of $26.71.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Doximity in a report on Friday, May 17th. Morgan Stanley reaffirmed an “underweight” rating and issued a $25.00 target price on shares of Doximity in a research report on Tuesday, April 23rd. Evercore ISI raised their target price on shares of Doximity from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Friday, May 17th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Doximity in a research report on Monday, February 26th. Finally, SVB Leerink began coverage on shares of Doximity in a research report on Monday, February 26th. They issued a “market perform” rating and a $32.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Doximity presently has a consensus rating of “Hold” and an average target price of $28.73.

Insider Buying and Selling at Doximity

In other Doximity news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.22, for a total transaction of $68,050.00. Following the completion of the sale, the director now directly owns 10,258 shares in the company, valued at approximately $279,222.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Craig Overpeck sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.85, for a total transaction of $35,775.00. Following the sale, the insider now owns 108,609 shares of the company’s stock, valued at approximately $2,590,324.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $27.22, for a total transaction of $68,050.00. Following the sale, the director now directly owns 10,258 shares in the company, valued at approximately $279,222.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,500 shares of company stock worth $171,250. 39.40% of the stock is owned by corporate insiders.

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.