Clearbridge Investments LLC Purchases 387,200 Shares of Doximity, Inc. (NASDAQ:DOCS)

Clearbridge Investments LLC boosted its position in Doximity, Inc. (NASDAQ:DOCS) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,853,035 shares of the company’s stock after acquiring an additional 387,200 shares during the period. Clearbridge Investments LLC owned 3.16% of Doximity worth $163,709,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DOCS. LRI Investments LLC bought a new stake in shares of Doximity in the first quarter valued at approximately $27,000. Blue Trust Inc. grew its stake in Doximity by 621.4% in the 2nd quarter. Blue Trust Inc. now owns 1,385 shares of the company’s stock valued at $37,000 after buying an additional 1,193 shares in the last quarter. Quarry LP raised its holdings in Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock valued at $45,000 after acquiring an additional 131,253 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Doximity during the first quarter worth $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Doximity by 80.0% in the second quarter. First Horizon Advisors Inc. now owns 1,710 shares of the company’s stock worth $48,000 after acquiring an additional 760 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of analyst reports. 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 note on Friday, August 9th. Evercore ISI increased 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. Robert W. Baird raised their price objective on shares of Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Barclays upped their target price on shares of Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Truist Financial reissued 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.42.

Doximity Stock Performance

Shares of NASDAQ:DOCS opened at $43.20 on Wednesday. The firm has a market capitalization of $8.01 billion, a PE ratio of 60.00, 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 $43.99. The firm has a fifty day moving average of $35.41 and a 200 day moving average of $29.81.

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, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $126.68 million during the quarter, compared to analysts’ expectations of $119.88 million. Doximity had a return on equity of 19.26% and a net margin of 32.53%. On average, sell-side analysts forecast that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.22, for a total transaction of $54,746.80. Following the transaction, the director now directly owns 12,269 shares of the company’s stock, valued at $346,231.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kira Scherer Wampler sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $28.18, for a total transaction of $70,450.00. Following the transaction, the director now directly owns 10,258 shares in the company, valued at approximately $289,070.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 directly owns 12,269 shares in the company, valued at $346,231.18. The disclosure for this sale can be found here. Insiders sold a total of 35,451 shares of company stock valued at $1,201,018 over the last quarter. 39.40% of the stock is owned by corporate insiders.

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.