Polar Capital Holdings Plc Buys 262,695 Shares of Doximity, Inc. (NASDAQ:DOCS)

Polar Capital Holdings Plc grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 218.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 382,695 shares of the company’s stock after acquiring an additional 262,695 shares during the quarter. Polar Capital Holdings Plc’s holdings in Doximity were worth $20,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shaker Investments LLC OH bought a new position in Doximity during the fourth quarter worth about $559,000. Principal Financial Group Inc. boosted its holdings in Doximity by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company’s stock worth $15,695,000 after buying an additional 4,282 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Doximity during the fourth quarter worth about $362,000. Stratos Wealth Partners LTD. bought a new position in Doximity during the fourth quarter worth about $203,000. Finally, Wells Fargo & Company MN boosted its holdings in Doximity by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company’s stock worth $19,698,000 after buying an additional 11,811 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DOCS shares. Needham & Company LLC raised their target price on Doximity from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler upgraded Doximity from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $78.00 in a report on Friday, February 7th. Morgan Stanley cut their price objective on Doximity from $71.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Doximity in a report on Friday, February 7th. Finally, Leerink Partners upgraded Doximity from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $90.00 in a report on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.39.

Insiders Place Their Bets

In related news, CFO Anna Bryson sold 45,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the completion of the sale, the chief financial officer now directly owns 357,165 shares in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director now owns 16,618 shares of the company’s stock, valued at $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company’s stock.

Doximity Stock Performance

Shares of Doximity stock opened at $58.54 on Friday. The business’s 50 day simple moving average is $57.58 and its 200 day simple moving average is $57.65. Doximity, Inc. has a 52-week low of $23.52 and a 52-week high of $85.21. The firm has a market cap of $10.93 billion, a PE ratio of 58.54, a P/E/G ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. Doximity’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. As a group, equities research analysts predict that Doximity, Inc. will post 0.99 EPS for the current 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.