Family Legacy Financial Solutions LLC Purchases New Holdings in Doximity, Inc. $DOCS

Key Points

• Family Legacy Financial Solutions LLC made a new investment in Doximity, Inc. worth approximately $1.46 million, acquiring 23,793 shares during the second quarter.
• Insider activity showed significant sales, with directors Regina M. Benjamin and Timothy S. Cabral each selling 10,000 shares, resulting in a 37.57% and 61.12% decrease in their respective positions.
• Doximity's recent quarterly earnings exceeded expectations, reporting $0.36 earnings per share, up from $0.28 from the same quarter last year, with a 15.2% increase in revenue.

Family Legacy Financial Solutions LLC purchased a new stake in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 23,793 shares of the company's stock, valued at approximately $1,459,000. Doximity comprises 1.2% of Family Legacy Financial Solutions LLC's portfolio, making the stock its 18th largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its stake in shares of Doximity by 14.6% during the fourth quarter. Cetera Investment Advisers now owns 8,097 shares of the company's stock worth $432,000 after buying an additional 1,034 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Doximity by 48.0% during the 4th quarter. Nuveen Asset Management LLC now owns 464,658 shares of the company's stock worth $24,808,000 after acquiring an additional 150,734 shares during the period. Quantinno Capital Management LP bought a new position in shares of Doximity in the 4th quarter worth $246,000. Snowden Capital Advisors LLC bought a new position in shares of Doximity in the 4th quarter worth $248,000. Finally, Tidal Investments LLC bought a new position in shares of Doximity in the 4th quarter worth $246,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DOCS. Bank of America upped their price target on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Wednesday, June 25th. Truist Financial raised their price objective on shares of Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. dropped their price objective on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Piper Sandler upped their target price on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Finally, Raymond James Financial set a $75.00 target price on Doximity in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.42.

Doximity Stock Down 1.0%

Shares of NASDAQ DOCS traded down $0.71 during midday trading on Friday, hitting $72.89. 2,853,244 shares of the company's stock were exchanged, compared to its average volume of 2,206,223. The firm has a market capitalization of $13.65 billion, a PE ratio of 72.89, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. The company's 50 day moving average price is $64.76 and its 200 day moving average price is $59.96. Doximity, Inc. has a 12 month low of $40.15 and a 12 month high of $85.21.

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 the consensus estimate 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 was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

Insiders Place Their Bets

In related news, Director Kira Scherer Wampler sold 2,000 shares of Doximity 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 transaction, the director directly owned 16,618 shares of the company's stock, valued at $948,721.62. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $600,000.00. Following the sale, the director directly owned 6,360 shares in the company, valued at $381,600. This trade represents a 61.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock valued at $2,281,880 in the last 90 days. Corporate insiders own 31.30% of the company's stock.

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.