Sarasin & Partners LLP Purchases Shares of 60,301 Doximity, Inc. (NASDAQ:DOCS)

Sarasin & Partners LLP acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 60,301 shares of the company’s stock, valued at approximately $3,499,000.

Several other large investors have also modified their holdings of the stock. Shaker Investments LLC OH purchased a new position in Doximity during the fourth quarter worth approximately $559,000. Principal Financial Group Inc. increased its holdings in shares of Doximity by 1.5% during the 4th 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. purchased a new position in shares of Doximity in the 4th quarter worth $362,000. Stratos Wealth Partners LTD. acquired a new position in Doximity in the fourth quarter valued at $203,000. Finally, Range Financial Group LLC purchased a new stake in Doximity during the first quarter valued at about $916,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was 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 directly owns 16,618 shares of the company’s stock, valued at $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Anna Bryson sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $57.23, for a total value of $2,575,350.00. Following the sale, the chief financial officer now owns 357,165 shares in the company, valued at $20,440,552.95. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,000 shares of company stock valued at $2,900,770 over the last ninety days. Corporate insiders own 37.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOCS. KeyCorp cut their price objective on Doximity from $83.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. William Blair reissued an “outperform” rating on shares of Doximity in a research report on Friday, May 16th. Canaccord Genuity Group reduced their price target on shares of Doximity from $71.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a “neutral” rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Doximity from $63.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.84.

Doximity Stock Performance

Shares of DOCS opened at $57.94 on Tuesday. Doximity, Inc. has a one year low of $25.00 and a one year high of $85.21. The stock has a 50-day moving average price of $54.72 and a 200 day moving average price of $58.36. The company has a market capitalization of $10.88 billion, a P/E ratio of 57.94, a P/E/G ratio of 4.10 and a beta of 1.32.

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

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.