Exchange Traded Concepts LLC Increases Position in Doximity, Inc. (NASDAQ:DOCS)

Exchange Traded Concepts LLC raised its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 10,804.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,503 shares of the company's stock after buying 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 large investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Doximity by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 293,974 shares of the company's stock valued at $15,695,000 after purchasing an additional 4,282 shares during the period. Range Financial Group LLC purchased a new stake in shares of Doximity in the first quarter valued at approximately $916,000. Wells Fargo & Company MN boosted its holdings in shares of Doximity by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 368,941 shares of the company's stock valued at $19,698,000 after purchasing an additional 11,811 shares during the period. Fundsmith LLP purchased a new stake in shares of Doximity in the fourth quarter valued at approximately $37,934,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Doximity by 199.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 122,000 shares of the company's stock valued at $6,514,000 after purchasing an additional 81,300 shares during the period. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOCS. William Blair reiterated an "outperform" rating on shares of Doximity in a report on Friday, May 16th. KeyCorp lowered their price target on Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Morgan Stanley reduced their price objective on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Raymond James Financial reduced their price objective on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Canaccord Genuity Group reduced their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.84.

Insider Activity at Doximity

In related news, CFO Anna Bryson sold 45,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the transaction, the chief financial officer now directly owns 357,165 shares of the company's stock, valued at $20,440,552.95. This represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $52.89, for a total value of $105,780.00. Following the sale, the director now directly owns 16,618 shares in the company, valued at $878,926.02. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock valued at $2,900,770 in the last ninety days. Company insiders own 37.40% of the company's stock.

Doximity Price Performance

NASDAQ DOCS opened at $57.10 on Friday. The stock's fifty day moving average price is $55.44 and its 200 day moving average price is $58.53. Doximity, Inc. has a 1 year low of $25.00 and a 1 year high of $85.21. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 57.10, a PEG ratio of 4.10 and a beta of 1.32.

Doximity (NASDAQ:DOCS - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $0.25 EPS. The business's revenue was up 17.1% compared to the same quarter last year. Research analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current year.

Doximity Company 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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