Harbor Capital Advisors Inc. Takes $1.28 Million Position in Doximity, Inc. (NASDAQ:DOCS)

Harbor Capital Advisors Inc. acquired a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,005 shares of the company's stock, valued at approximately $1,277,000.

Other large investors have also modified their holdings of the company. Global Retirement Partners LLC raised its holdings in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after buying an additional 440 shares during the period. Larson Financial Group LLC raised its holdings in Doximity by 49.4% in the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock valued at $40,000 after buying an additional 250 shares during the period. Optimum Investment Advisors purchased a new position in Doximity in the fourth quarter valued at approximately $43,000. Kapitalo Investimentos Ltda purchased a new position in Doximity in the fourth quarter valued at approximately $50,000. Finally, Huntington National Bank raised its holdings in Doximity by 1,440.8% in the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock valued at $58,000 after buying an additional 1,023 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DOCS shares. William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Needham & Company LLC cut their price target on shares of Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Canaccord Genuity Group cut their price target on shares of Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a report on Friday, May 16th. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, June 2nd. Finally, Raymond James lowered their price objective on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.84.

Doximity Stock Performance

Shares of DOCS stock traded up $0.11 during mid-day trading on Monday, reaching $56.03. 1,414,492 shares of the company were exchanged, compared to its average volume of 2,138,183. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The company has a market capitalization of $10.52 billion, a P/E ratio of 56.03, a P/E/G ratio of 4.10 and a beta of 1.32. The business's 50 day simple moving average is $55.24 and its 200 day simple moving average is $58.52.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the prior year, the company earned $0.25 earnings per share. Doximity's quarterly revenue was up 17.1% compared to the same quarter last year. On average, analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Insiders Place Their Bets

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of Doximity 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,000 shares of company stock valued at $2,900,770 over the last 90 days. 37.40% of the stock is owned by company insiders.

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.