Los Angeles Capital Management LLC Acquires Shares of 10,262 Doximity, Inc. (NASDAQ:DOCS)

Los Angeles Capital Management LLC acquired a new stake in Doximity, Inc. (NASDAQ:DOCS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,262 shares of the company’s stock, valued at approximately $287,000.

A number of other institutional investors have also recently made changes to their positions in DOCS. William Blair Investment Management LLC acquired a new stake in shares of Doximity in the first quarter worth approximately $148,823,000. Swedbank AB acquired a new stake in shares of Doximity in the first quarter worth approximately $91,673,000. Norges Bank acquired a new stake in shares of Doximity in the fourth quarter worth approximately $35,995,000. Capital World Investors boosted its stake in shares of Doximity by 250.7% in the first quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after acquiring an additional 1,225,707 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Doximity by 33.5% in the first quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after acquiring an additional 621,590 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the chief financial officer now owns 309,627 shares in the company, valued at approximately $10,836,945. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $35.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,500 shares of the business’s 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 transaction, the director now directly owns 10,258 shares of the company’s stock, valued at $287,224. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,951 shares of company stock worth $1,271,018. 39.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOCS. JPMorgan Chase & Co. lifted their price target on Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Needham & Company LLC upgraded Doximity from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Friday, August 9th. Wells Fargo & Company downgraded Doximity from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $27.00 to $19.00 in a research report on Thursday, July 18th. Morgan Stanley lifted their price objective on Doximity from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Finally, Bank of America lifted their price objective on Doximity from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.27.

Doximity Trading Up 2.9 %

DOCS stock opened at $39.32 on Monday. The company has a market capitalization of $7.29 billion, a PE ratio of 54.61, a P/E/G ratio of 5.15 and a beta of 1.27. Doximity, Inc. has a 12-month low of $19.71 and a 12-month high of $39.69. The business’s fifty day moving average price is $32.16 and its 200 day moving average price is $28.67.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $126.68 million for the quarter, compared to the consensus estimate of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. Research analysts predict that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Doximity 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.