Bayforest Capital Ltd Raises Stock Holdings in Doximity, Inc. $DOCS

Key Points

• Bayforest Capital Ltd increased its stake in Doximity, Inc. by 162.1% during the first quarter, now owning shares worth approximately $616,000.
• Company insiders have sold a total of 32,000 shares worth nearly $1.93 million over the last quarter, indicating potential shifts in ownership dynamics.
• Doximity's recent earnings report showed an earnings per share (EPS) of $0.36, surpassing estimates and reflecting a year-over-year revenue increase of 15.2%.

Bayforest Capital Ltd lifted its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 162.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,614 shares of the company's stock after acquiring an additional 6,565 shares during the quarter. Bayforest Capital Ltd's holdings in Doximity were worth $616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DOCS. Amalgamated Bank boosted its stake in Doximity by 0.3% in the 1st quarter. Amalgamated Bank now owns 60,928 shares of the company's stock worth $3,536,000 after purchasing an additional 186 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Doximity by 0.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock worth $2,262,000 after purchasing an additional 210 shares during the period. Greenleaf Trust boosted its stake in Doximity by 5.4% in the 1st quarter. Greenleaf Trust now owns 4,492 shares of the company's stock worth $261,000 after purchasing an additional 230 shares during the period. Spire Wealth Management boosted its stake in Doximity by 73.2% in 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 period. Finally, Allworth Financial LP boosted its stake in Doximity by 104.0% in 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 period. Institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Monday, June 2nd. Wells Fargo & Company lifted their price target on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Raymond James Financial set a $75.00 price target on Doximity in a research note on Wednesday, September 10th. Canaccord Genuity Group lifted their price target on Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, The Goldman Sachs Group set a $50.00 price target on Doximity and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, Doximity presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Doximity Stock Performance

Shares of NASDAQ DOCS traded up $1.68 during mid-day trading on Monday, hitting $72.71. 530,661 shares of the stock traded hands, compared to its average volume of 2,214,222. Doximity, Inc. has a 52 week low of $39.27 and a 52 week high of $85.21. The company has a market cap of $13.62 billion, a price-to-earnings ratio of 72.57, a PEG ratio of 4.10 and a beta of 1.37. The stock has a fifty day moving average price of $63.60 and a 200-day moving average price of $59.77.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter last year, the firm earned $0.28 EPS. The firm's quarterly 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. As a group, sell-side analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Insider Transactions at Doximity

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

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.