Amalgamated Bank Increases Stake in Doximity, Inc. (NASDAQ:DOCS)

Amalgamated Bank grew its stake in Doximity, Inc. (NASDAQ:DOCS) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,928 shares of the company’s stock after purchasing an additional 186 shares during the period. Amalgamated Bank’s holdings in Doximity were worth $3,536,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DOCS. QSV Equity Investors LLC boosted its holdings in Doximity by 0.3% during the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company’s stock worth $3,244,000 after buying an additional 186 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock worth $40,000 after acquiring an additional 250 shares during the period. Spire Wealth Management boosted its stake in shares of Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $36,000 after acquiring an additional 260 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Doximity by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,269 shares of the company’s stock valued at $121,000 after acquiring an additional 332 shares during the period. Finally, Corient Private Wealth LLC increased its stake in shares of Doximity by 3.9% in the 4th quarter. Corient Private Wealth LLC now owns 8,887 shares of the company’s stock valued at $474,000 after purchasing an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DOCS shares. Bank of America increased their price target on Doximity from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 25th. KeyCorp decreased their target price on Doximity from $83.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. BTIG Research raised shares of Doximity from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, June 2nd. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a “neutral” rating in a report on Wednesday, May 21st. Finally, Morgan Stanley reduced their price objective on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Doximity presently has an average rating of “Moderate Buy” and an average target price of $63.11.

Insider Activity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Monday, June 2nd. The stock was 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. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Regina M. Benjamin sold 10,000 shares of the company’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 completion of the transaction, the director directly owned 16,618 shares in the company, valued at approximately $997,080. This trade represents a 37.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,000 shares of company stock worth $4,100,770 in the last 90 days. 37.40% of the stock is owned by corporate insiders.

Doximity Stock Up 4.0%

NASDAQ DOCS opened at $61.69 on Friday. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The business’s fifty day simple moving average is $56.74 and its 200-day simple moving average is $58.95. The firm has a market cap of $11.59 billion, a PE ratio of 61.69, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Research analysts expect that Doximity, Inc. will post 0.99 EPS 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.