AXQ Capital LP Has $3.67 Million Stake in Doximity, Inc. $DOCS

Key Points

• AXQ Capital LP increased its Doximity stake by 1,354.5% in the second quarter, ending with 177,044 shares worth approximately $3.67 million. Institutional investors and hedge funds collectively own 87.19% of the company.
• Analyst sentiment remains mixed, with Doximity holding a consensus “Hold” rating and an average price target of $32.43. Recent actions included a Wolfe Research upgrade to “Outperform” and a KeyCorp downgrade to “Sector Weight.”
• Doximity reported quarterly earnings of $0.29 per share, beating estimates of $0.16, while revenue rose 7.3% year over year to $156.62 million. DOCS was trading at $27.01, with a market capitalization of about $4.81 billion.

AXQ Capital LP grew its stake in shares of Doximity, Inc. (NYSE:DOCS - Free Report) by 1,354.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,044 shares of the company's stock after buying an additional 164,872 shares during the period. AXQ Capital LP owned approximately 0.10% of Doximity worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Carmignac Gestion lifted its holdings in Doximity by 127.8% during the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company's stock worth $100,480,000 after acquiring an additional 2,418,971 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Doximity by 3,403.2% during the first quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company's stock worth $32,820,000 after purchasing an additional 1,368,388 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Doximity by 325,436.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company's stock valued at $57,515,000 after purchasing an additional 1,298,492 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Doximity by 3,422.7% in the 4th quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company's stock valued at $55,309,000 after purchasing an additional 1,213,627 shares during the period. Finally, Swedbank AB grew its position in shares of Doximity by 1,147.9% in the 1st quarter. Swedbank AB now owns 1,010,559 shares of the company's stock valued at $23,546,000 after purchasing an additional 929,576 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOCS has been the topic of a number of research reports. KeyCorp lowered shares of Doximity from an "overweight" rating to a "sector weight" rating in a research note on Thursday, May 14th. Zacks Research upgraded shares of Doximity from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $30.00 price objective on shares of Doximity in a research report on Friday, August 7th. Wolfe Research raised shares of Doximity to an "outperform" rating in a research note on Thursday, August 13th. Finally, Canaccord Genuity Group set a $36.00 target price on shares of Doximity in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.43.

Insider Buying and Selling at Doximity

In related news, Director Kira Wampler sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total value of $49,900.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at approximately $494,983.05. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $20.41, for a total value of $49,882.04. Following the sale, the insider directly owned 90,706 shares in the company, valued at $1,851,309.46. This represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 13,714 shares of company stock valued at $437,251 in the last ninety days. 31.80% of the stock is currently owned by corporate insiders.

Doximity Trading Up 2.6%

NYSE DOCS opened at $27.01 on Friday. The firm's fifty day moving average price is $23.21 and its two-hundred day moving average price is $23.07. Doximity, Inc. has a 1 year low of $17.15 and a 1 year high of $76.51. The firm has a market capitalization of $4.81 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 20.59 and a beta of 1.25.

Doximity (NYSE:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.13. The company had revenue of $156.62 million during the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. On average, research analysts anticipate that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.

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