Arizona State Retirement System Raises Stake in Doximity, Inc. (NASDAQ:DOCS)

Arizona State Retirement System increased its position in Doximity, Inc. (NASDAQ:DOCS) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,779 shares of the company’s stock after buying an additional 725 shares during the period. Arizona State Retirement System’s holdings in Doximity were worth $861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DOCS. LRI Investments LLC purchased a new stake in Doximity in the 1st quarter valued at about $27,000. Blue Trust Inc. boosted its position in shares of Doximity by 621.4% in the second quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,193 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Doximity in the first quarter worth approximately $46,000. First Horizon Advisors Inc. grew its holdings in Doximity by 80.0% in the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares during the period. Finally, Van ECK Associates Corp increased its position in Doximity by 19.7% during the second quarter. Van ECK Associates Corp now owns 2,590 shares of the company’s stock worth $72,000 after purchasing an additional 427 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Insider Buying and Selling at Doximity

In other news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $28.00, for a total value of $70,000.00. Following the sale, the director now owns 10,258 shares of the company’s stock, valued at $287,224. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,951 shares of company stock valued at $1,271,018. Corporate insiders own 39.40% of the company’s stock.

Doximity Stock Up 2.9 %

Shares of NASDAQ DOCS opened at $39.32 on Friday. The stock has a market cap of $7.30 billion, a P/E ratio of 54.61, a P/E/G ratio of 5.15 and a beta of 1.27. The firm’s 50-day simple moving average is $32.16 and its 200 day simple moving average is $28.67. Doximity, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $39.69.

Doximity (NASDAQ:DOCS) last issued its quarterly 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 return on equity of 19.26% and a net margin of 32.53%. The firm had revenue of $126.68 million during the quarter, compared to analyst estimates of $119.88 million. On average, sell-side analysts anticipate that Doximity, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on DOCS shares. Canaccord Genuity Group lifted their price target on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Bank of America upped their target price on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Barclays lifted their price objective on shares of Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $27.00 to $19.00 in a research note on Thursday, July 18th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $35.00 price target (up from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.27.

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.