StepStone Group LP Invests $435,000 in Doximity, Inc. $DOCS

Key Points

• StepStone Group LP has acquired 7,497 shares of Doximity, Inc. (NASDAQ:DOCS) in the first quarter, valued at approximately $435,000, making it 0.4% of their investment portfolio.
• Insider trading activity has seen directors Timothy S. Cabral and Regina M. Benjamin sell a total of 15,000 shares worth over $900,000 in the past few months, reducing their ownership stakes.
• Analysts have raised price targets for Doximity, with estimates now ranging from $50.00 to $75.00, and the company currently has a consensus rating of "Moderate Buy".

StepStone Group LP bought a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 7,497 shares of the company's stock, valued at approximately $435,000. Doximity comprises about 0.4% of StepStone Group LP's holdings, making the stock its 14th largest position.

Other hedge funds have also recently modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in shares of Doximity in the 1st quarter valued at $29,000. Allworth Financial LP grew its position in shares of Doximity by 104.0% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after buying an additional 287 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Doximity in the 1st quarter valued at $33,000. Spire Wealth Management grew its position in shares of Doximity by 73.2% in the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Doximity by 70.7% in the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company's stock valued at $43,000 after buying an additional 309 shares during the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Stock Up 1.1%

Shares of NASDAQ DOCS traded up $0.73 during midday trading on Tuesday, hitting $67.13. The company had a trading volume of 1,080,562 shares, compared to its average volume of 2,306,818. Doximity, Inc. has a twelve month low of $35.32 and a twelve month high of $85.21. The business has a 50-day simple moving average of $61.18 and a two-hundred day simple moving average of $60.45. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 67.13, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, beating 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 period in the previous year, the business earned $0.28 earnings per share. Doximity's revenue for the quarter was up 15.2% compared to the same quarter last year. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on DOCS. Raymond James Financial raised their price objective on shares of Doximity from $65.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group raised their price objective on shares of Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Piper Sandler raised their price objective on shares of Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. KeyCorp raised their price objective on shares of Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Mizuho lowered their price objective on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, Doximity has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Insiders Place Their Bets

In other Doximity news, Director Regina M. Benjamin sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director owned 16,618 shares in the company, valued at approximately $997,080. The trade was a 37.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $57.09, for a total transaction of $114,180.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $948,721.62. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,000 shares of company stock worth $2,140,940. Insiders own 31.30% of the company's stock.

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.