Cim LLC Invests $1.96 Million in Doximity, Inc. (NASDAQ:DOCS)

Cim LLC acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) in the second quarter, HoldingsChannel reports. The fund acquired 69,895 shares of the company’s stock, valued at approximately $1,955,000.

A number of other institutional investors have also recently bought and sold shares of DOCS. LRI Investments LLC bought a new stake in shares of Doximity in the 1st quarter valued at approximately $27,000. Blue Trust Inc. grew its position in 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 in the last quarter. Quarry LP increased its stake in shares of Doximity by 101.2% during the 2nd quarter. Quarry LP now owns 1,616 shares of the company’s stock worth $45,000 after purchasing an additional 131,253 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Doximity during the 1st quarter valued at $46,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Doximity by 80.0% in the 2nd 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 last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

Shares of DOCS stock opened at $43.20 on Wednesday. The stock’s fifty day simple moving average is $35.41 and its 200 day simple moving average is $29.81. Doximity, Inc. has a one year low of $19.89 and a one year high of $43.99. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 60.00, a P/E/G ratio of 5.80 and a beta of 1.27.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.22 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. On average, research analysts anticipate that Doximity, Inc. will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Baird R W upgraded shares of Doximity to a “strong-buy” rating in a research note on Tuesday, September 17th. Barclays boosted their target price on shares of Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. 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 note on Friday, August 9th. Finally, Robert W. Baird increased their price objective on Doximity from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity has a consensus rating of “Hold” and a consensus target price of $32.42.

Insider Transactions at Doximity

In other Doximity news, Director Watkin Phoebe L. Yang sold 1,011 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $25.54, for a total transaction of $25,820.94. Following the transaction, the director now owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,269 shares in the company, valued at approximately $346,231.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $25.54, for a total value of $25,820.94. Following the completion of the transaction, the director now directly owns 11,258 shares in the company, valued at approximately $287,529.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,451 shares of company stock worth $1,201,018. Corporate insiders own 39.40% of the company’s stock.

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.