Ballentine Partners LLC Takes $201,000 Position in Doximity, Inc. (NASDAQ:DOCS)

Ballentine Partners LLC acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,461 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $32,000 after acquiring an additional 287 shares in the last quarter. Spire Wealth Management boosted its stake in Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $36,000 after acquiring an additional 260 shares in the last quarter. Optimum Investment Advisors acquired a new stake in Doximity in the fourth quarter valued at approximately $43,000. Kapitalo Investimentos Ltda acquired a new stake in Doximity in the fourth quarter valued at approximately $50,000. Finally, Huntington National Bank boosted its stake in Doximity by 1,440.8% in the fourth quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $58,000 after acquiring an additional 1,023 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $52.89, for a total value of $105,780.00. Following the sale, the director owned 16,618 shares in the company, valued at $878,926.02. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated 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 approximately $20,440,552.95. This trade represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,000 shares of company stock worth $4,400,970 in the last ninety days. 37.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOCS. Evercore ISI raised shares of Doximity from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $70.00 in a report on Wednesday, July 9th. JPMorgan Chase & Co. decreased their price target on shares of Doximity from $63.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 27th. Robert W. Baird decreased their price target on shares of Doximity from $87.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, May 20th. William Blair reaffirmed an “outperform” rating on shares of Doximity in a report on Friday, May 16th. Finally, Needham & Company LLC decreased their price target on shares of Doximity from $82.00 to $67.00 and set a “buy” rating for the company in a report on Friday, May 16th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.89.

Doximity Stock Performance

DOCS opened at $61.60 on Friday. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The company has a fifty day moving average of $57.45 and a two-hundred day moving average of $59.31. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 61.60, a PEG ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating 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 period in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, equities research analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.