Apella Capital LLC Grows Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Apella Capital LLC increased its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 15.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,767 shares of the company’s stock after buying an additional 8,178 shares during the quarter. Apella Capital LLC’s holdings in Doximity were worth $2,730,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new stake in shares of Doximity in the first quarter valued at about $148,823,000. Swedbank AB purchased a new stake in Doximity in the first quarter valued at $91,673,000. Capital World Investors grew its holdings in shares of Doximity by 250.7% during the 1st quarter. Capital World Investors now owns 1,714,707 shares of the company’s stock worth $46,143,000 after purchasing an additional 1,225,707 shares during the period. Janus Henderson Group PLC increased its position in shares of Doximity by 33.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,474,695 shares of the company’s stock worth $66,594,000 after purchasing an additional 621,590 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Doximity by 7.1% in the 2nd quarter. Clearbridge Investments LLC now owns 5,853,035 shares of the company’s stock valued at $163,709,000 after buying an additional 387,200 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DOCS shares. Truist Financial reiterated a “hold” rating and set a $35.00 price target (up from $31.00) on shares of Doximity in a research report on Wednesday, August 14th. Barclays increased their target price on Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Doximity from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Wells Fargo & Company lowered shares of Doximity from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $27.00 to $19.00 in a research note on Thursday, July 18th. Finally, Bank of America raised their price target on shares of Doximity from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.42.

Insider Buying and Selling

In other news, CFO Anna Bryson sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 SEC, which is available at the SEC website. In other news, CFO Anna Bryson sold 30,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $54,746.80. Following the completion of the sale, the director now owns 12,269 shares in the company, valued at $346,231.18. The disclosure for this sale can be found here. Insiders have 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 currently owned by insiders.

Doximity Stock Performance

Shares of NASDAQ DOCS opened at $43.34 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of 60.19, a price-to-earnings-growth ratio of 5.80 and a beta of 1.29. Doximity, Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $43.99. The stock’s 50-day simple moving average is $36.03 and its 200-day simple moving average is $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, beating 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 earnings per share 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.