Carmignac Gestion Purchases 52,700 Shares of Doximity, Inc. $DOCS

Key Points

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Carmignac Gestion lifted its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,000 shares of the company's stock after purchasing an additional 52,700 shares during the period. Carmignac Gestion owned 0.20% of Doximity worth $21,471,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. JT Stratford LLC bought a new position in shares of Doximity during the first quarter valued at about $274,000. Hsbc Holdings PLC increased its stake in shares of Doximity by 752.1% in the first quarter. Hsbc Holdings PLC now owns 141,191 shares of the company's stock worth $8,120,000 after purchasing an additional 124,622 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Doximity by 9.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,730,282 shares of the company's stock worth $100,408,000 after purchasing an additional 150,574 shares in the last quarter. Pinnacle Wealth Management LLC purchased a new position in shares of Doximity in the first quarter worth about $581,000. Finally, Quantbot Technologies LP increased its stake in shares of Doximity by 182.6% in the first quarter. Quantbot Technologies LP now owns 212,868 shares of the company's stock worth $12,353,000 after purchasing an additional 137,541 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Mizuho cut their price objective on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 16th. Raymond James Financial raised their price objective on shares of Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Evercore ISI upgraded shares of Doximity from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $50.00 to $70.00 in a research report on Wednesday, July 9th. BTIG Research upgraded shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a report on Monday, June 2nd. Finally, Morgan Stanley decreased their target price on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.21.

Insider Activity

In other news, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $63.00, for a total transaction of $315,000.00. Following the completion of the sale, the director owned 16,618 shares of the company's stock, valued at $1,046,934. This represents a 23.13% decrease in their position. 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 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 sale, the director directly owned 16,618 shares of the company's stock, valued at $948,721.62. The trade was a 10.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,000 shares of company stock valued at $2,140,940 in the last quarter. 31.30% of the stock is currently owned by insiders.

Doximity Stock Performance

DOCS opened at $65.94 on Tuesday. The stock has a market capitalization of $12.35 billion, a P/E ratio of 65.94, a P/E/G ratio of 4.10 and a beta of 1.36. The company's 50-day simple moving average is $60.18 and its two-hundred day simple moving average is $60.32. Doximity, Inc. has a 52-week low of $35.32 and a 52-week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the previous year, the company posted $0.28 EPS. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Doximity 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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