Algert Global LLC Increases Stock Position in Doximity, Inc. (NASDAQ:DOCS)

Algert Global LLC increased its position in Doximity, Inc. (NASDAQ:DOCS) by 229.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,318 shares of the company’s stock after buying an additional 76,839 shares during the quarter. Algert Global LLC’s holdings in Doximity were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCS. William Blair Investment Management LLC lifted its stake in shares of Doximity by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 6,404,068 shares of the company’s stock valued at $179,122,000 after purchasing an additional 873,682 shares in the last quarter. Swedbank AB purchased a new position in Doximity in the first quarter valued at approximately $91,673,000. Janus Henderson Group PLC lifted its position in Doximity by 33.5% during the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock valued at $66,594,000 after buying an additional 621,590 shares in the last quarter. Capital World Investors grew its stake in Doximity by 250.7% during the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after buying an additional 1,225,707 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Doximity by 23.1% in the second quarter. Renaissance Technologies LLC now owns 1,603,202 shares of the company’s stock worth $44,842,000 after acquiring an additional 301,100 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

DOCS opened at $43.20 on Wednesday. Doximity, Inc. has a 12-month low of $19.89 and a 12-month high of $43.99. The stock has a market capitalization of $8.01 billion, a PE ratio of 60.00, a P/E/G ratio of 5.80 and a beta of 1.27. The firm’s fifty day moving average price is $35.41 and its 200 day moving average price is $29.81.

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

Analyst Upgrades and Downgrades

DOCS has been the subject of a number of research reports. Baird R W raised shares of Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on Doximity from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $27.00 to $19.00 in a report on Thursday, July 18th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, August 9th. Finally, Robert W. Baird boosted their target price on shares of Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.42.

Insider Activity

In related news, CFO Anna Bryson sold 30,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at $10,836,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares in the company, valued at $10,836,945. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of Doximity stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $28.18, for a total value of $70,450.00. Following the completion of the transaction, the director now owns 10,258 shares of the company’s stock, valued at $289,070.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,451 shares of company stock worth $1,201,018. 39.40% of the stock is currently owned by insiders.

Doximity 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.