Doximity, Inc. $DOCS Position Lifted by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its holdings in Doximity, Inc. by 118.8% in Q1, owning 123,304 shares worth $7.15 million after acquiring an additional 66,947 shares.
• Other institutional investors such as Vanguard Group and Invesco also boosted their stakes, indicating strong institutional interest as they collectively own 87.19% of the company's stock.
• Doximity posted an earnings per share (EPS) of $0.36 for the latest quarter, surpassing analysts' expectations of $0.31, alongside a 15.2% increase in revenue year-over-year.

Empowered Funds LLC grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 118.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,304 shares of the company's stock after acquiring an additional 66,947 shares during the period. Empowered Funds LLC owned about 0.07% of Doximity worth $7,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DOCS. SG Americas Securities LLC bought a new position in Doximity in the first quarter worth approximately $65,702,000. Vanguard Group Inc. grew its holdings in shares of Doximity by 8.8% during the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after buying an additional 990,923 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Doximity by 54.8% during the first quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after buying an additional 696,923 shares during the last quarter. Nuveen LLC purchased a new stake in Doximity in the first quarter valued at $34,056,000. Finally, Pacer Advisors Inc. boosted its holdings in Doximity by 111.7% in the first quarter. Pacer Advisors Inc. now owns 629,042 shares of the company's stock valued at $36,503,000 after purchasing an additional 331,910 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird upped their price target on shares of Doximity from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. JPMorgan Chase & Co. reduced their price target on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Bank of America increased their price objective on shares of Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th. Zacks Research cut shares of Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, KeyCorp increased their price target on shares of Doximity from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, Doximity has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Doximity Stock Performance

DOCS stock traded down $0.47 during trading on Tuesday, reaching $72.00. 358,153 shares of the company were exchanged, compared to its average volume of 2,210,229. The company has a market cap of $13.49 billion, a P/E ratio of 71.98, a PEG ratio of 4.10 and a beta of 1.37. The stock's 50 day moving average price is $63.84 and its 200 day moving average price is $59.78. Doximity, Inc. has a 52-week low of $39.62 and a 52-week high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities research analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Regina M. Benjamin sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $997,080. This represents a 37.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. This represents a 61.12% 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 valued at $1,929,380. Insiders own 31.30% of the company's stock.

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.