Emergence GP Partners LLC Decreases Stock Holdings in Doximity, Inc. (NASDAQ:DOCS)

Emergence GP Partners LLC decreased its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 387,500 shares of the company's stock after selling 193,750 shares during the period. Doximity comprises 13.7% of Emergence GP Partners LLC's portfolio, making the stock its 2nd biggest holding. Emergence GP Partners LLC owned about 0.21% of Doximity worth $22,487,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $32,000 after buying an additional 287 shares during the last quarter. Spire Wealth Management lifted its holdings in Doximity by 73.2% during the 1st quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after buying an additional 260 shares in the last quarter. Optimum Investment Advisors bought a new position in Doximity in the 4th quarter valued at $43,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Doximity in the 4th quarter valued at $50,000. Finally, Huntington National Bank raised its position in shares of Doximity by 1,440.8% during the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after acquiring an additional 1,023 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOCS. BTIG Research upgraded Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, June 2nd. Morgan Stanley lowered their price target on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the company a "neutral" rating in a research note on Wednesday, May 21st. KeyCorp lifted their price objective on Doximity from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, William Blair restated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Doximity has a consensus rating of "Moderate Buy" and a consensus price target of $64.89.

Insider Activity at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the 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 transaction, the director owned 16,618 shares in the company, valued at approximately $946,062.74. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 6,360 shares in the company, 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. Insiders sold 76,000 shares of company stock valued at $4,400,970 in the last 90 days. Insiders own 31.30% of the company's stock.

Doximity Price Performance

DOCS stock traded down $0.30 during mid-day trading on Thursday, reaching $60.70. The company had a trading volume of 333,362 shares, compared to its average volume of 2,384,468. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The stock has a 50 day simple moving average of $57.47 and a two-hundred day simple moving average of $59.49. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 60.70, a PEG ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. During the same quarter in the prior year, the firm earned $0.25 EPS. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

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.