Cache Advisors LLC Takes $753,000 Position in Doximity, Inc. (NASDAQ:DOCS)

Cache Advisors LLC bought a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,096 shares of the company's stock, valued at approximately $753,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its stake in shares of Doximity by 468.1% during the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock valued at $29,000 after buying an additional 440 shares during the last quarter. UMB Bank n.a. grew its position in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company's stock valued at $31,000 after acquiring an additional 235 shares during the period. Larson Financial Group LLC boosted its holdings in Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Doximity in the 4th quarter worth about $43,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Doximity in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Price Performance

Shares of DOCS stock traded up $1.04 during midday trading on Tuesday, reaching $52.06. 1,515,322 shares of the company traded hands, compared to its average volume of 2,096,359. The firm's 50 day simple moving average is $56.12 and its two-hundred day simple moving average is $58.23. Doximity, Inc. has a 1-year low of $25.00 and a 1-year high of $85.21. The firm has a market cap of $9.72 billion, a PE ratio of 52.06, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data 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%. Doximity's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, research analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DOCS shares. Truist Financial decreased their price objective on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a report on Friday, May 16th. The Goldman Sachs Group set a $50.00 price objective on Doximity and gave the company a "neutral" rating in a report on Wednesday, May 21st. Wells Fargo & Company reiterated an "equal weight" rating on shares of Doximity in a report on Friday, February 7th. Needham & Company LLC decreased their price objective on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, William Blair reissued an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.89.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total transaction of $113,860.00. Following the completion of the transaction, the director now directly owns 16,618 shares of the company's stock, valued at approximately $946,062.74. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer now owns 357,165 shares of the company's stock, valued at approximately $20,440,552.95. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 37.40% of the company's stock.

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.