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Dakota Wealth Management Purchases Shares of 9,161 Doximity, Inc. (NASDAQ:DOCS)

Doximity logo with Medical background

Dakota Wealth Management purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,161 shares of the company's stock, valued at approximately $532,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Doximity by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after purchasing an additional 485,102 shares in the last quarter. FMR LLC grew its holdings in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after purchasing an additional 2,571,580 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after purchasing an additional 95,458 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Doximity by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock worth $124,644,000 after purchasing an additional 62,366 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after purchasing an additional 164,200 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Doximity Stock Performance

NASDAQ:DOCS traded down $0.82 during mid-day trading on Thursday, hitting $61.60. The company had a trading volume of 1,845,462 shares, compared to its average volume of 2,183,039. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The business's fifty day moving average is $57.41 and its two-hundred day moving average is $59.26. The firm has a market cap of $11.57 billion, a P/E ratio of 61.60, a P/E/G ratio of 4.10 and a beta of 1.37.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on DOCS. Bank of America lifted their price objective on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $50.00 to $70.00 in a research note on Wednesday, July 9th. BTIG Research raised Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Monday, June 2nd. Needham & Company LLC decreased their price target on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Morgan Stanley decreased their price target on Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.89.

Check Out Our Latest Stock Analysis on Doximity

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 6,360 shares of the company's stock, valued at $381,600. This trade represents a 61.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Anna Bryson sold 45,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer owned 357,165 shares of the company's stock, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,000 shares of company stock worth $4,400,970. 37.40% of the stock is owned by company insiders.

Doximity Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Doximity (NASDAQ:DOCS)

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