Axxcess Wealth Management LLC Invests $254,000 in Doximity, Inc. (NASDAQ:DOCS)

Axxcess Wealth Management LLC acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,384 shares of the company's stock, valued at approximately $254,000.

Other institutional investors have also made changes to their positions in the company. Spire Wealth Management increased its stake in shares of Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares during the period. Optimum Investment Advisors acquired a new position in Doximity in the 4th quarter valued at approximately $43,000. Kapitalo Investimentos Ltda bought a new position in Doximity in the fourth quarter worth $50,000. Huntington National Bank lifted its holdings in shares of Doximity by 1,440.8% during the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after acquiring an additional 1,023 shares during the period. Finally, UMB Bank n.a. raised its position in Doximity by 128.0% in the first quarter. UMB Bank n.a. now owns 1,311 shares of the company's stock worth $76,000 after purchasing an additional 736 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the transaction, the chief financial officer owned 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Regina M. Benjamin sold 10,000 shares of the firm's 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 sale, the director directly owned 16,618 shares of the company's stock, valued at $997,080. This represents a 37.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,000 shares of company stock valued at $4,400,970 in the last ninety days. Corporate insiders own 37.40% of the company's stock.

Doximity Price Performance

DOCS stock traded up $1.27 during trading hours on Monday, reaching $61.47. 1,215,631 shares of the stock were exchanged, compared to its average volume of 2,443,868. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 12 month low of $25.00 and a 12 month high of $85.21. The firm's 50-day moving average is $57.19 and its 200-day moving average is $59.19.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period last year, the company posted $0.25 EPS. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, equities research analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on DOCS. Robert W. Baird decreased their price objective on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their target price on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Needham & Company LLC reduced their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Evercore ISI upgraded shares of Doximity from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. Finally, Raymond James Financial reduced their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.42.

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.