Canada Pension Plan Investment Board Acquires 68,300 Shares of Doximity, Inc. (NASDAQ:DOCS)

Canada Pension Plan Investment Board lifted its holdings in Doximity, Inc. (NASDAQ:DOCS) by 200.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,300 shares of the company’s stock after buying an additional 68,300 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Doximity worth $2,861,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in DOCS. Norges Bank bought a new stake in Doximity in the fourth quarter worth $35,995,000. Olympiad Research LP bought a new stake in shares of Doximity in the 4th quarter worth about $222,000. Treasurer of the State of North Carolina lifted its holdings in shares of Doximity by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 53,128 shares of the company’s stock worth $1,490,000 after acquiring an additional 520 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Doximity during the 4th quarter valued at about $206,000. Finally, Evoke Wealth LLC raised its position in Doximity by 24.3% in the 4th quarter. Evoke Wealth LLC now owns 12,498 shares of the company’s stock worth $350,000 after purchasing an additional 2,441 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOCS has been the subject of several recent analyst reports. Baird R W upgraded Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Needham & Company LLC raised 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 lowered Doximity from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. Robert W. Baird boosted their target price on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Finally, Evercore ISI upped their price target on shares of Doximity from $29.00 to $34.00 and gave the stock an “in-line” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Doximity currently has a consensus rating of “Hold” and an average price target of $32.42.

Doximity Stock Up 1.6 %

Shares of NASDAQ:DOCS opened at $42.53 on Friday. The firm has a 50 day moving average of $34.53 and a 200 day moving average of $29.46. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 59.07, a price-to-earnings-growth ratio of 5.80 and a beta of 1.27. Doximity, Inc. has a 52 week low of $19.89 and a 52 week high of $42.56.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate 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 expect that Doximity, Inc. will post 0.8 EPS for the current year.

Insider Transactions at Doximity

In related news, CFO Anna Bryson sold 30,000 shares of the 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 completion of the sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at $10,836,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Anna Bryson sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $28.22, for a total value of $54,746.80. Following the completion of the sale, the director now directly owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The disclosure for this sale can be found here. Insiders have sold a total of 37,951 shares of company stock valued at $1,271,018 in the last 90 days. Insiders own 39.40% of the company’s stock.

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.