Doximity, Inc. $DOCS Shares Purchased 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 increased its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 118.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,304 shares of the company's stock after buying an additional 66,947 shares during the period. Empowered Funds LLC owned 0.07% of Doximity worth $7,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after acquiring an additional 990,923 shares during the period. Invesco Ltd. increased its stake in shares of Doximity by 54.8% in the 1st quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after purchasing an additional 696,923 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Doximity by 9.5% in the 1st 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 during the period. Bank of New York Mellon Corp raised its holdings in Doximity by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,137,912 shares of the company's stock worth $66,033,000 after purchasing an additional 86,135 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Doximity during the first quarter worth approximately $65,702,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Trading Down 0.7%

Shares of Doximity stock opened at $69.01 on Thursday. The company has a fifty day simple moving average of $63.25 and a 200-day simple moving average of $59.94. Doximity, Inc. has a 12-month low of $36.12 and a 12-month high of $85.21. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 69.01, a PEG ratio of 4.10 and a beta of 1.37.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. cut their price target on Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. KeyCorp raised their price objective on shares of Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank of America lifted their target price on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. Finally, Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $50.00 to $70.00 in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.21.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $57.09, for a total value of $114,180.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $948,721.62. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction on 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 transaction, the director directly owned 16,618 shares in the company, valued at $1,046,934. The trade was a 23.13% 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. 31.30% of the stock is 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.

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