Capital World Investors Raises Holdings in Doximity, Inc. (NASDAQ:DOCS)

Capital World Investors grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 250.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714,707 shares of the company’s stock after acquiring an additional 1,225,707 shares during the quarter. Capital World Investors owned about 0.92% of Doximity worth $46,143,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DOCS. First Horizon Advisors Inc. increased its stake in Doximity by 111.3% during the 4th quarter. First Horizon Advisors Inc. now owns 995 shares of the company’s stock valued at $28,000 after purchasing an additional 524 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Doximity in the 4th quarter valued at $40,000. Essex Investment Management Co. LLC purchased a new position in Doximity in the 1st quarter worth $73,000. Central Pacific Bank Trust Division acquired a new stake in Doximity during the 1st quarter worth about $120,000. Finally, Jump Financial LLC purchased a new stake in Doximity during the 4th quarter valued at about $202,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DOCS. Wells Fargo & Company cut Doximity from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. Morgan Stanley reissued an “underweight” rating and set a $25.00 price target on shares of Doximity in a research report on Tuesday, April 23rd. William Blair reaffirmed an “outperform” rating on shares of Doximity in a report on Friday, May 17th. Evercore ISI increased their price objective on shares of Doximity from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Friday, May 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Doximity in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Doximity presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Doximity Stock Up 0.5 %

NASDAQ:DOCS opened at $28.16 on Friday. Doximity, Inc. has a 52 week low of $19.71 and a 52 week high of $36.03. The stock’s 50-day moving average price is $28.05 and its 200-day moving average price is $27.47. The stock has a market capitalization of $5.22 billion, a PE ratio of 39.11, a price-to-earnings-growth ratio of 5.27 and a beta of 1.22.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $118.06 million for the quarter, compared to analyst estimates of $116.46 million. Doximity had a return on equity of 17.44% and a net margin of 31.04%. Sell-side analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Doximity news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer now directly owns 288,685 shares of the company’s stock, valued at $8,660,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Doximity news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief financial officer now directly owns 288,685 shares in the company, valued at approximately $8,660,550. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Craig Overpeck sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.85, for a total value of $35,775.00. Following the completion of the transaction, the insider now owns 108,609 shares in the company, valued at approximately $2,590,324.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,500 shares of company stock valued at $1,373,825. 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.