Doximity, Inc. (NASDAQ:DOCS) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,137,912 shares of the company's stock after purchasing an additional 86,135 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Doximity worth $66,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Doximity by 196.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company's stock valued at $787,000 after purchasing an additional 8,995 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Doximity in the first quarter valued at approximately $916,000. New York State Teachers Retirement System increased its holdings in shares of Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company's stock valued at $6,566,000 after purchasing an additional 11,078 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Doximity by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company's stock valued at $19,698,000 after purchasing an additional 11,811 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Doximity by 214.2% in the first quarter. Bessemer Group Inc. now owns 1,398 shares of the company's stock valued at $81,000 after purchasing an additional 953 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on DOCS shares. Robert W. Baird cut their price target on Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. William Blair reiterated an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. KeyCorp lowered their price objective on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial lowered their price objective on Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.42.

Insider Buying and Selling

In related news, Director Regina M. Benjamin sold 10,000 shares of Doximity stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 16,618 shares in the company, valued at approximately $997,080. This trade represents a 37.57% 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 Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $946,062.74. 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 ninety days, insiders have sold 76,000 shares of company stock valued at $4,400,970. 37.40% of the stock is currently owned by company insiders.

Doximity Stock Performance

Shares of DOCS traded up $0.18 during midday trading on Friday, hitting $60.26. 1,616,681 shares of the stock were exchanged, compared to its average volume of 2,173,693. Doximity, Inc. has a 52-week low of $25.00 and a 52-week high of $85.21. The stock has a fifty day simple moving average of $57.19 and a 200 day simple moving average of $59.18. The firm has a market cap of $11.32 billion, a P/E ratio of 60.26, a P/E/G ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, equities research analysts forecast 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.