Exchange Traded Concepts LLC Buys 14,370 Shares of Doximity, Inc. (NASDAQ:DOCS)

Exchange Traded Concepts LLC raised its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 10,804.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,503 shares of the company's stock after acquiring an additional 14,370 shares during the period. Exchange Traded Concepts LLC's holdings in Doximity were worth $842,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Doximity by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock valued at $598,159,000 after acquiring an additional 485,102 shares during the last quarter. FMR LLC increased its holdings in shares of Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after buying an additional 2,571,580 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after buying an additional 95,458 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Doximity by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,334,597 shares of the company's stock worth $124,644,000 after buying an additional 62,366 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after buying an additional 164,200 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOCS has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. KeyCorp decreased their price target on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Mizuho decreased 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. Robert W. Baird decreased their price objective on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Finally, The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.84.

Insider Activity

In other news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $52.89, for a total transaction of $105,780.00. Following the sale, the director now directly owns 16,618 shares in the company, valued at approximately $878,926.02. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the sale, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,000 shares of company stock worth $2,900,770. 37.40% of the stock is owned by corporate insiders.

Doximity Stock Up 1.1%

NASDAQ:DOCS traded up $0.65 during trading hours on Monday, reaching $58.01. 1,394,331 shares of the company's stock were exchanged, compared to its average volume of 2,150,517. The company has a market capitalization of $10.90 billion, a P/E ratio of 58.01, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. Doximity, Inc. has a 12 month low of $25.00 and a 12 month high of $85.21. The business's 50-day simple moving average is $55.64 and its two-hundred day simple moving average is $58.63.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, sell-side analysts anticipate that Doximity, Inc. will post 0.99 earnings per share 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.