VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.51 Million Investment in Doximity, Inc. $DOCS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Doximity, Inc. (NYSE:DOCS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 73,033 shares of the company’s stock, valued at approximately $1,515,000.

A number of other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the period. Parallel Advisors LLC boosted its stake in Doximity by 111.0% in the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Doximity by 937.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock valued at $66,000 after acquiring an additional 2,560 shares during the period. Continuum Advisory LLC bought a new position in shares of Doximity in the second quarter worth $67,000. Finally, Leonteq Securities AG increased its stake in Doximity by 65.6% in the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after acquiring an additional 1,154 shares during the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Stock Up 3.8%

Shares of DOCS opened at $25.66 on Friday. Doximity, Inc. has a twelve month low of $17.15 and a twelve month high of $76.51. The firm has a 50 day moving average of $23.69 and a 200 day moving average of $23.09. The company has a market capitalization of $4.57 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 19.33 and a beta of 1.25.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The company had revenue of $156.62 million during the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts expect that Doximity, Inc. will post 0.74 EPS for the current year.

Insider Transactions at Doximity

In related news, Director Timothy Cabral sold 7,500 shares of Doximity stock in a transaction on Friday, August 7th. The stock was sold at an average price of $39.11, for a total value of $293,325.00. Following the completion of the sale, the director owned 3,221 shares of the company’s stock, valued at $125,973.31. The trade was a 69.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kira Wampler sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total transaction of $49,900.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at approximately $494,983.05. This represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,270 shares of company stock worth $387,369 in the last ninety days. Insiders own 31.80% of the company’s stock.

Analyst Ratings Changes

DOCS has been the topic of several research reports. Barclays raised their price objective on shares of Doximity from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, August 21st. Evercore set a $40.00 price objective on Doximity in a research report on Friday, August 7th. Wolfe Research upgraded shares of Doximity to an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Doximity in a report on Wednesday, August 12th. Finally, Canaccord Genuity Group set a $36.00 target price on Doximity in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.18.

Doximity Company Profile

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.