Louisiana State Employees Retirement System Makes New $931,000 Investment in Doximity, Inc. (NASDAQ:DOCS)

Louisiana State Employees Retirement System purchased a new stake in Doximity, Inc. (NASDAQ:DOCS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,200 shares of the company’s stock, valued at approximately $931,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOCS. CWM LLC raised its position in shares of Doximity by 57.2% in the third quarter. CWM LLC now owns 4,982 shares of the company’s stock valued at $106,000 after buying an additional 1,813 shares in the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of Doximity in the third quarter valued at approximately $848,000. Harbor Capital Advisors Inc. raised its position in shares of Doximity by 57.4% in the third quarter. Harbor Capital Advisors Inc. now owns 35,965 shares of the company’s stock valued at $763,000 after buying an additional 13,118 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Doximity in the third quarter valued at approximately $448,000. Finally, Xponance Inc. raised its position in shares of Doximity by 2.7% in the third quarter. Xponance Inc. now owns 19,522 shares of the company’s stock valued at $414,000 after buying an additional 508 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

NASDAQ DOCS opened at $23.59 on Friday. The firm’s fifty day moving average price is $27.08 and its two-hundred day moving average price is $26.17. The stock has a market cap of $4.40 billion, a PE ratio of 35.74, a PEG ratio of 3.09 and a beta of 1.17. Doximity, Inc. has a fifty-two week low of $19.71 and a fifty-two week high of $36.92.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. Doximity had a net margin of 29.39% and a return on equity of 16.08%. The company had revenue of $135.28 million for the quarter, compared to analysts’ expectations of $127.46 million. As a group, sell-side analysts predict that Doximity, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.97, for a total value of $67,425.00. Following the sale, the director now owns 10,258 shares of the company’s stock, valued at $276,658.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 39.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Leerink Partnrs restated a “market perform” rating on shares of Doximity in a research report on Monday, February 26th. Evercore ISI restated an “in-line” rating and set a $30.00 price objective on shares of Doximity in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded shares of Doximity from an “underweight” rating to a “neutral” rating and set a $25.00 price objective for the company in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Doximity from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, SVB Leerink assumed coverage on shares of Doximity in a research report on Monday, February 26th. They set a “market perform” rating and a $32.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.82.

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.