Rockland Trust Co. Makes New $257,000 Investment in Doximity, Inc. (NASDAQ:DOCS)

Rockland Trust Co. purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,892 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds have also made changes to their positions in the business. LRI Investments LLC purchased a new position in Doximity during the first quarter worth about $27,000. Blue Trust Inc. lifted its holdings in shares of Doximity by 621.4% during the 2nd 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 period. Quarry LP boosted its position in shares of Doximity by 101.2% in the second quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after acquiring an additional 131,253 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Doximity in the first quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. increased its position in Doximity by 80.0% during the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock worth $48,000 after purchasing an additional 760 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analysts Set New Price Targets

DOCS has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Doximity from $29.00 to $34.00 and gave the company an “in-line” rating in a research note on Friday, August 9th. Canaccord Genuity Group upped their price target on Doximity from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Robert W. Baird raised their price objective on Doximity from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Barclays lifted their price target on shares of Doximity from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.42.

Insiders Place Their Bets

In other news, CFO Anna Bryson sold 30,000 shares of the firm’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 completion of the sale, the chief financial officer now owns 309,627 shares of the company’s stock, valued at approximately $10,836,945. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction that occurred on 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 transaction, the director now owns 12,269 shares in the company, valued at approximately $346,231.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anna Bryson sold 30,000 shares of the company’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 value of $1,050,000.00. Following the sale, the chief financial officer now directly owns 309,627 shares in the company, valued at approximately $10,836,945. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,451 shares of company stock worth $1,201,018 in the last three months. 39.40% of the stock is owned by insiders.

Doximity Price Performance

Doximity stock traded up $0.46 during midday trading on Friday, hitting $43.83. 785,642 shares of the stock were exchanged, compared to its average volume of 1,709,874. Doximity, Inc. has a 1 year low of $19.89 and a 1 year high of $43.99. The firm has a market cap of $8.13 billion, a P/E ratio of 60.88, a P/E/G ratio of 5.80 and a beta of 1.29. The company has a 50 day moving average price of $36.03 and a two-hundred day moving average price of $30.00.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $126.68 million for the quarter, compared to analyst estimates of $119.88 million. As a group, analysts predict that Doximity, Inc. will post 0.8 EPS for the current year.

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.