Corient IA LLC Purchases Shares of 5,000 Doximity, Inc. $DOCS

Key Points

• Corient IA LLC acquired 5,000 shares of Doximity, Inc. valued at approximately $290,000 during the first quarter, indicating growing institutional interest in the company.
• Doximity's quarterly earnings report showed an EPS of $0.36, surpassing analysts' expectations and reflecting a 15.2% year-over-year revenue increase.
• Institutional investors and hedge funds now own 87.19% of Doximity's stock, highlighting significant institutional backing for the company.

Corient IA LLC acquired a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,000 shares of the company's stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC acquired a new position in shares of Doximity during the first quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Doximity by 196.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company's stock worth $787,000 after buying an additional 8,995 shares during the period. Range Financial Group LLC acquired a new stake in Doximity in the first quarter worth approximately $916,000. New York State Teachers Retirement System lifted its position in Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company's stock worth $6,566,000 after purchasing an additional 11,078 shares during the period. Finally, Bank of Nova Scotia acquired a new stake in Doximity in the first quarter worth approximately $651,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

Shares of NASDAQ DOCS traded up $3.5630 during mid-day trading on Friday, reaching $67.6930. The company had a trading volume of 1,637,248 shares, compared to its average volume of 2,323,116. Doximity, Inc. has a twelve month low of $35.32 and a twelve month high of $85.21. The stock has a market capitalization of $12.68 billion, a PE ratio of 67.69, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. The stock's 50 day moving average is $60.80 and its 200-day moving average is $60.46.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, sell-side analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.00, for a total value of $315,000.00. Following the completion of the sale, the director directly owned 16,618 shares in the company, valued at approximately $1,046,934. This represents a 23.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 6,360 shares of the company's stock, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,000 shares of company stock worth $2,140,940. Corporate insiders own 31.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on DOCS. JPMorgan Chase & Co. cut their target price on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Needham & Company LLC increased their price objective on Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Truist Financial increased their price objective on Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. 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. Finally, Mizuho cut their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.21.

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.