Doximity, Inc. $DOCS Shares Sold by Acadian Asset Management LLC

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 trimmed its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,559 shares of the company's stock after selling 85,837 shares during the quarter. Acadian Asset Management LLC owned approximately 0.11% of Doximity worth $11,453,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DOCS. VSM Wealth Advisory LLC purchased a new position in Doximity during the first quarter valued at approximately $29,000. Allworth Financial LP increased its holdings in Doximity by 104.0% during the first 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 period. National Bank of Canada FI purchased a new position in Doximity during the first quarter valued at approximately $33,000. Spire Wealth Management increased its holdings in Doximity by 73.2% during the first 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 period. Finally, Brooklyn Investment Group increased its holdings in Doximity by 70.7% during the first 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 period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DOCS shares. KeyCorp lifted their price objective on shares of Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Raymond James Financial set a $75.00 price target on shares of Doximity in a report on Wednesday, September 10th. Robert W. Baird lifted their price target on shares of Doximity from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Truist Financial lifted their price target on shares of Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Doximity currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.42.

Insider Transactions at Doximity

In other news, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction on 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 sale, the director directly owned 6,360 shares in the company, valued at approximately $381,600. The trade was a 61.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction on Friday, September 12th. The stock was sold at an average price of $70.50, for a total transaction of $352,500.00. Following the sale, the director owned 19,839 shares of the company's stock, valued at $1,398,649.50. The trade was a 20.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,000 shares of company stock worth $2,281,880. Company insiders own 31.30% of the company's stock.

Doximity Trading Up 1.0%

Shares of NASDAQ:DOCS traded up $0.74 on Thursday, hitting $73.41. 349,779 shares of the company were exchanged, compared to its average volume of 2,197,291. Doximity, Inc. has a 1-year low of $40.04 and a 1-year high of $85.21. The stock's 50 day moving average price is $64.24 and its 200 day moving average price is $59.95. The firm has a market capitalization of $13.75 billion, a P/E ratio of 73.41, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.36 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 earned $0.28 earnings per share. The firm'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 analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Doximity Company 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.