Doximity, Inc. $DOCS Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in Doximity, Inc. (NASDAQ:DOCS) by 13.2%, selling 142,693 shares in the second quarter, leaving it with approximately 0.50% ownership valued at $57.6 million.
• Doximity reported a 15.2% increase in quarterly revenue year-over-year, with earnings per share of $0.36, exceeding analyst expectations.
• Analysts have set new target prices for Doximity, with Robert W. Baird raising their price target from $75 to $80, reflecting a positive outlook on the stock.

Riverbridge Partners LLC decreased its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 13.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 938,620 shares of the company's stock after selling 142,693 shares during the quarter. Riverbridge Partners LLC owned about 0.50% of Doximity worth $57,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Doximity by 5.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,981 shares of the company's stock valued at $183,000 after acquiring an additional 165 shares during the last quarter. Amalgamated Bank increased its stake in shares of Doximity by 0.3% during the 1st quarter. Amalgamated Bank now owns 60,928 shares of the company's stock valued at $3,536,000 after acquiring an additional 186 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Doximity by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock valued at $2,262,000 after acquiring an additional 210 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Doximity by 5.4% during the 1st quarter. Greenleaf Trust now owns 4,492 shares of the company's stock worth $261,000 after purchasing an additional 230 shares during the period. Finally, Spire Wealth Management grew its holdings in shares of Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Stock Up 0.6%

NASDAQ DOCS opened at $74.36 on Thursday. The stock has a market cap of $13.93 billion, a PE ratio of 74.36, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a fifty-two week low of $40.87 and a fifty-two week high of $85.21. The business has a 50 day moving average price of $65.46 and a two-hundred day moving average price of $60.17.

Doximity (NASDAQ:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share 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%.The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Sell-side analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Doximity from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Canaccord Genuity Group boosted their target price on Doximity from $59.00 to $67.00 and gave the stock a "hold" rating in a report on Thursday, September 18th. Zacks Research cut Doximity from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Doximity from $55.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, Truist Financial boosted their target price on Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Doximity has a consensus rating of "Moderate Buy" and a consensus target price of $67.42.

Insider Activity 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 transaction of $114,180.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $60.04, for a total value of $300,200.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at approximately $997,744.72. This trade represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,000 shares of company stock valued at $1,081,880. Company insiders own 31.30% of the company's stock.

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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