Bessemer Group Inc. Purchases 953 Shares of Doximity, Inc. (NASDAQ:DOCS)

Bessemer Group Inc. grew its position in Doximity, Inc. (NASDAQ:DOCS) by 214.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,398 shares of the company’s stock after purchasing an additional 953 shares during the quarter. Bessemer Group Inc.’s holdings in Doximity were worth $81,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DOCS. Truist Financial Corp bought a new position in shares of Doximity in the fourth quarter valued at approximately $307,000. IFP Advisors Inc raised its position in shares of Doximity by 344.1% in the fourth quarter. IFP Advisors Inc now owns 1,328 shares of the company’s stock valued at $71,000 after purchasing an additional 1,029 shares during the period. US Bancorp DE raised its position in shares of Doximity by 7.8% in the fourth quarter. US Bancorp DE now owns 11,285 shares of the company’s stock valued at $603,000 after purchasing an additional 818 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Doximity by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,269 shares of the company’s stock worth $121,000 after acquiring an additional 332 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Doximity by 2.0% in the fourth quarter. State of Michigan Retirement System now owns 30,300 shares of the company’s stock worth $1,618,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling at Doximity

In other news, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the director owned 6,360 shares in the company, valued at approximately $381,600. The trade was a 61.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer owned 357,165 shares in the company, valued at $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,000 shares of company stock worth $4,100,770 over the last three months. 37.40% of the stock is currently owned by corporate insiders.

Doximity Price Performance

DOCS opened at $61.69 on Friday. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The firm’s fifty day moving average price is $56.74 and its two-hundred day moving average price is $58.95. The company has a market capitalization of $11.59 billion, a P/E ratio of 61.69, a P/E/G ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the prior year, the company earned $0.25 EPS. Doximity’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities research analysts expect that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCS. William Blair restated an “outperform” rating on shares of Doximity in a research note on Friday, May 16th. Raymond James Financial lowered their price objective on shares of Doximity from $83.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Canaccord Genuity Group lowered their price objective on shares of Doximity from $71.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, May 16th. Truist Financial lowered their price objective on shares of Doximity from $58.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, May 16th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a “neutral” rating in a research note on Wednesday, May 21st. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Doximity currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.11.

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.