191,798 Shares in Doximity, Inc. (NASDAQ:DOCS) Purchased by AGF Management Ltd.

Key Points

• AGF Management Ltd. has acquired 191,798 shares of Doximity, Inc., valued at approximately $11.13 million, marking a new position for the institutional investor in the company.
• Insider trading activity showed that directors Timothy S. Cabral and Regina M. Benjamin each sold 10,000 shares at $60.00, leading to significant decreases in their positions.
• Recent analyst evaluations indicate a mixed outlook for Doximity, with target prices ranging from $59.00 to $70.00 and an overall average rating of "Moderate Buy."

AGF Management Ltd. acquired a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 191,798 shares of the company's stock, valued at approximately $11,130,000. AGF Management Ltd. owned about 0.10% of Doximity as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of DOCS. SG Americas Securities LLC bought a new position in Doximity in the 1st quarter valued at $65,702,000. Invesco Ltd. raised its position in Doximity by 525.1% in the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after purchasing an additional 1,068,849 shares during the last quarter. Vanguard Group Inc. raised its position in Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after purchasing an additional 990,923 shares during the last quarter. Fundsmith LLP bought a new position in Doximity in the 4th quarter valued at $37,934,000. Finally, D. E. Shaw & Co. Inc. raised its position in Doximity by 180.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 972,157 shares of the company's stock valued at $51,903,000 after purchasing an additional 625,467 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director directly owned 6,360 shares in the company, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $63.00, for a total value of $315,000.00. Following the completion of the sale, the director owned 16,618 shares of the company's stock, valued at $1,046,934. This trade represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,000 shares of company stock worth $2,140,940 over the last ninety days. 31.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DOCS has been the subject of several research analyst reports. The Goldman Sachs Group set a $50.00 price objective on Doximity and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Bank of America boosted their target price on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Monday, June 2nd. Morgan Stanley dropped their target price on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group boosted their target price on Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.21.

Doximity Stock Down 0.7%

NASDAQ DOCS traded down $0.48 on Thursday, reaching $63.54. The company had a trading volume of 818,945 shares, compared to its average volume of 2,356,423. The stock's 50 day moving average is $59.77 and its 200-day moving average is $60.14. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 63.54, a PEG ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a 52 week low of $34.34 and a 52 week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts forecast that Doximity, Inc. will post 0.99 EPS for the current 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.