Bayforest Capital Ltd Has $616,000 Stock Position 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 boosted its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 162.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,614 shares of the company's stock after purchasing an additional 6,565 shares during the period. Bayforest Capital Ltd's holdings in Doximity were worth $616,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Ballentine Partners LLC bought a new stake in shares of Doximity during the 1st quarter valued at about $201,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Doximity by 196.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company's stock valued at $787,000 after acquiring an additional 8,995 shares during the last quarter. Range Financial Group LLC purchased a new stake in Doximity in the first quarter worth $916,000. Bank of Nova Scotia purchased a new stake in Doximity in the first quarter worth $651,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Doximity by 10.9% during the 1st quarter. New York State Teachers Retirement System now owns 113,145 shares of the company's stock valued at $6,566,000 after buying an additional 11,078 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the company'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 transaction, the director directly owned 16,618 shares in the company, valued at approximately $948,721.62. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Regina M. Benjamin sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director owned 16,618 shares in the company, valued at $997,080. The trade was a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,000 shares of company stock worth $1,929,380. Corporate insiders own 31.30% of the company's stock.

Doximity Stock Up 0.0%

Shares of Doximity stock opened at $69.55 on Wednesday. Doximity, Inc. has a twelve month low of $36.12 and a twelve month high of $85.21. The business has a 50-day moving average price of $63.05 and a 200 day moving average price of $59.88. The firm has a market cap of $13.03 billion, a PE ratio of 69.55, a P/E/G 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 earnings per share (EPS) for the quarter, topping 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%.The company's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, sell-side analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

DOCS has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. KeyCorp upped their price objective on Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Zacks Research downgraded Doximity from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Mizuho dropped their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. Finally, Truist Financial upped their price objective on Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Doximity currently has an average rating of "Moderate Buy" and an average price target of $66.21.

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.

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