Highland Capital Management LLC Makes New $1.30 Million Investment in Doximity, Inc. (NASDAQ:DOCS)

Highland Capital Management LLC bought a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 22,328 shares of the company's stock, valued at approximately $1,296,000.

Several other large investors have also recently modified their holdings of DOCS. Sanctuary Advisors LLC boosted its stake in Doximity by 10.2% during the 4th quarter. Sanctuary Advisors LLC now owns 7,251 shares of the company's stock valued at $428,000 after purchasing an additional 672 shares during the last quarter. Truist Financial Corp purchased a new stake in Doximity during the fourth quarter valued at approximately $307,000. Global Retirement Partners LLC boosted its holdings in Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after acquiring an additional 440 shares during the period. IFP Advisors Inc raised its stake in shares of Doximity by 344.1% during the fourth quarter. IFP Advisors Inc now owns 1,328 shares of the company's stock valued at $71,000 after acquiring an additional 1,029 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Doximity by 2.3% in the fourth quarter. Amalgamated Bank now owns 60,742 shares of the company's stock worth $3,243,000 after acquiring an additional 1,343 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOCS. William Blair reissued an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Bank of America raised their price objective on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. KeyCorp dropped their price objective on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Truist Financial decreased their price objective on Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.11.

Insider Activity at Doximity

In other news, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. This trade represents a 61.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Regina M. Benjamin sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were 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 16,618 shares of the company's stock, valued at approximately $997,080. This trade represents a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,000 shares of company stock valued at $4,100,770 over the last three months. 37.40% of the stock is owned by company insiders.

Doximity Trading Up 1.6%

NASDAQ DOCS traded up $0.94 during trading on Wednesday, reaching $59.32. 1,318,457 shares of the company's stock were exchanged, compared to its average volume of 2,491,981. The company's fifty day simple moving average is $56.53 and its 200-day simple moving average is $58.89. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The firm has a market capitalization of $11.14 billion, a PE ratio of 59.32, a P/E/G ratio of 4.10 and a beta of 1.33.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.38 EPS 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%. The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. Equities analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal 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.