Nuveen LLC Acquires New Position in Doximity, Inc. $DOCS

Key Points

• Nuveen LLC acquired 586,863 shares of Doximity, Inc. for approximately $34.06 million, increasing its ownership to 0.31% as per the latest SEC filing.
• Several institutional investors have also adjusted their stakes in Doximity, with notable increases including a 73.2% boost by Spire Wealth Management.
• Doximity's stock recently opened at $65.12, reflecting a significant price target increase from analysts, with an average target now at $66.21.

Nuveen LLC bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 586,863 shares of the company's stock, valued at approximately $34,056,000. Nuveen LLC owned approximately 0.31% of Doximity as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Virtu Financial LLC lifted its holdings in Doximity by 2.2% during the 1st quarter. Virtu Financial LLC now owns 16,948 shares of the company's stock worth $983,000 after buying an additional 371 shares in the last quarter. Entropy Technologies LP lifted its holdings in Doximity by 9.1% during the 1st quarter. Entropy Technologies LP now owns 16,699 shares of the company's stock worth $969,000 after buying an additional 1,397 shares in the last quarter. Invesco Ltd. lifted its holdings in Doximity by 54.8% during the 1st quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock worth $114,280,000 after buying an additional 696,923 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in Doximity during the 1st quarter worth approximately $8,807,000. Finally, National Bank of Canada FI acquired a new stake in Doximity during the 1st quarter worth approximately $33,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Doximity

In other news, Director Regina M. Benjamin sold 5,000 shares of the firm'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 owned 16,618 shares in the company, valued at approximately $1,046,934. This trade represents a 23.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $57.09, for a total transaction of $114,180.00. Following the completion of the sale, the director owned 16,618 shares of the company's stock, valued at $948,721.62. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,000 shares of company stock worth $2,140,940. Company insiders own 31.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOCS. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Monday, June 2nd. Wells Fargo & Company increased their price objective on shares of Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Raymond James Financial increased their price objective on shares of Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Truist Financial increased their price objective on shares of Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Finally, Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $50.00 to $70.00 in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.21.

Doximity Stock Performance

Doximity stock traded down $2.3550 during midday trading on Tuesday, hitting $63.5750. 1,165,300 shares of the company's stock were exchanged, compared to its average volume of 2,338,769. Doximity, Inc. has a 12-month low of $35.32 and a 12-month high of $85.21. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 63.58, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. The firm's 50 day simple moving average is $60.18 and its 200 day simple moving average is $60.32.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. 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 posted $0.28 EPS. Doximity's revenue was up 15.2% on a year-over-year basis. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities research 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.