Acadian Asset Management LLC Has $11.45 Million Stock Holdings in Doximity, Inc. $DOCS

Key Points

• Acadian Asset Management LLC reduced its stake in Doximity, Inc. by 30.3%, now holding 197,559 shares valued at approximately $11.45 million after selling 85,837 shares in the first quarter.
• Doximity reported earnings of $0.36 per share, exceeding analysts' estimates, with a 15.2% increase in revenue year-over-year and a net margin of 36.60%.
• Institutional investors own 87.19% of Doximity's stock, and several analysts have set new price targets, with an average target of $67.00 reflecting a "Moderate Buy" rating.

Acadian Asset Management LLC lessened its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 197,559 shares of the company's stock after selling 85,837 shares during the quarter. Acadian Asset Management LLC owned 0.11% of Doximity worth $11,453,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC acquired a new position in shares of Doximity during the 1st quarter worth $29,000. Allworth Financial LP increased its stake in shares of Doximity by 104.0% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Doximity during the 1st quarter worth $33,000. Spire Wealth Management increased its stake in shares of Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Doximity by 70.7% during the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company's stock worth $43,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Trading Up 1.1%

NASDAQ DOCS opened at $71.05 on Friday. The company has a fifty day simple moving average of $63.60 and a 200 day simple moving average of $59.92. The company has a market cap of $13.31 billion, a P/E ratio of 71.05, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 1 year low of $38.30 and a 1 year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last posted 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%. The company's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction on 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 6,360 shares of the company's stock, valued at $381,600. This represents a 61.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock valued at $1,929,380. Company insiders own 31.30% of the company's stock.

Analysts Set New Price Targets

DOCS has been the topic of several analyst reports. BTIG Research upgraded shares of 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. Robert W. Baird increased their price target on shares of Doximity from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday. Bank of America increased their price target on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 25th. Piper Sandler increased their price target on shares of Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, Truist Financial increased their price target on shares of Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Doximity presently has an average rating of "Moderate Buy" and an average price target of $67.00.

About Doximity

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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