Doximity, Inc. (NASDAQ:DOCS) Stock Position Lifted by Spire Wealth Management

Spire Wealth Management lifted its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 73.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 615 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Spire Wealth Management’s holdings in Doximity were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC grew its position in Doximity by 37.6% in the 4th quarter. FMR LLC now owns 9,409,313 shares of the company’s stock valued at $502,363,000 after buying an additional 2,571,580 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Doximity by 708.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company’s stock worth $80,641,000 after acquiring an additional 1,323,634 shares during the period. SG Americas Securities LLC bought a new position in shares of Doximity in the first quarter valued at approximately $65,702,000. Invesco Ltd. boosted its holdings in shares of Doximity by 525.1% in the fourth quarter. Invesco Ltd. now owns 1,272,403 shares of the company’s stock valued at $67,934,000 after acquiring an additional 1,068,849 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Doximity by 1,178.3% during the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company’s stock valued at $56,711,000 after acquiring an additional 979,113 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird cut their target price on Doximity from $87.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on Doximity from $63.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 27th. BTIG Research raised Doximity from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Monday, June 2nd. KeyCorp dropped their price target on shares of Doximity from $83.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial reduced their price objective on shares of Doximity from $58.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.11.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 6,360 shares of the company’s stock, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anna Bryson sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the sale, the chief financial officer owned 357,165 shares of the company’s stock, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,000 shares of company stock worth $4,100,770. Insiders own 37.40% of the company’s stock.

Doximity Stock Up 1.6%

Shares of NASDAQ:DOCS opened at $59.32 on Thursday. The company’s fifty day moving average is $56.63 and its two-hundred day moving average is $58.89. The company has a market cap of $11.14 billion, a P/E ratio of 59.32, a price-to-earnings-growth ratio of 4.10 and a beta of 1.33. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings results 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 return on equity of 21.75% and a net margin of 36.60%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. Equities research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.