Renaissance Technologies LLC Grows Holdings in Doximity, Inc. (NASDAQ:DOCS)

Renaissance Technologies LLC raised its position in Doximity, Inc. (NASDAQ:DOCS) by 23.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,603,202 shares of the company’s stock after buying an additional 301,100 shares during the period. Renaissance Technologies LLC’s holdings in Doximity were worth $44,842,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOCS. Victory Capital Management Inc. grew its holdings in shares of Doximity by 21.3% in the fourth quarter. Victory Capital Management Inc. now owns 32,863 shares of the company’s stock valued at $921,000 after acquiring an additional 5,780 shares in the last quarter. Jump Financial LLC bought a new position in Doximity in the 4th quarter valued at $202,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Doximity during the fourth quarter worth about $391,000. Norges Bank purchased a new stake in shares of Doximity during the 4th quarter worth approximately $35,995,000. Finally, Trexquant Investment LP grew its holdings in Doximity by 58.9% during the fourth quarter. Trexquant Investment LP now owns 99,966 shares of the company’s stock valued at $2,803,000 after purchasing an additional 37,069 shares during the period. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Stock Performance

Shares of DOCS stock opened at $40.06 on Thursday. The company has a market capitalization of $7.43 billion, a PE ratio of 55.64, a price-to-earnings-growth ratio of 5.15 and a beta of 1.27. Doximity, Inc. has a 52-week low of $19.71 and a 52-week high of $40.99. The business’s fifty day moving average is $32.93 and its 200 day moving average is $28.91.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Doximity had a return on equity of 19.26% and a net margin of 32.53%. The firm had revenue of $126.68 million for the quarter, compared to analysts’ expectations of $119.88 million. On average, sell-side analysts forecast that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $28.00, for a total value of $70,000.00. Following the transaction, the director now owns 10,258 shares of the company’s stock, valued at approximately $287,224. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $28.00, for a total transaction of $70,000.00. Following the transaction, the director now directly owns 10,258 shares in the company, valued at approximately $287,224. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the transaction, the director now directly owns 11,258 shares in the company, valued at $287,529.32. The disclosure for this sale can be found here. Insiders have sold 37,951 shares of company stock valued at $1,271,018 over the last three months. 39.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Doximity from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research report on Tuesday. Bank of America lifted their target price on shares of Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Robert W. Baird upped their price target on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Needham & Company LLC upgraded shares of Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.42.

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.