Doximity, Inc. $DOCS Holdings Lifted by Iron Triangle Partners LP

Key Points

• Iron Triangle Partners LP increased its stake in Doximity, Inc. by 15.2% during the first quarter, now holding 360,000 shares worth approximately $20.89 million, making it the fund's 14th largest position.
• Doximity recently reported strong quarterly earnings, with $0.36 earnings per share, exceeding analysts' estimates of $0.31, and noted a revenue increase of 15.2% year-over-year.
• In the fourth quarter, several institutional investors significantly increased their holdings in Doximity, which is now 87.19% owned by institutional investors.

Iron Triangle Partners LP grew its position in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,000 shares of the company's stock after acquiring an additional 47,425 shares during the quarter. Doximity comprises 3.3% of Iron Triangle Partners LP's holdings, making the stock its 14th largest position. Iron Triangle Partners LP owned 0.19% of Doximity worth $20,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock valued at $707,646,000 after acquiring an additional 990,923 shares in the last quarter. Invesco Ltd. lifted its position in shares of Doximity by 54.8% in the first quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after acquiring an additional 696,923 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Doximity by 9.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,730,282 shares of the company's stock valued at $100,408,000 after acquiring an additional 150,574 shares in the last quarter. Northern Trust Corp lifted its position in shares of Doximity by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,459,185 shares of the company's stock valued at $77,906,000 after acquiring an additional 125,332 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Doximity by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 1,137,912 shares of the company's stock valued at $66,033,000 after acquiring an additional 86,135 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Doximity Stock Performance

NASDAQ:DOCS traded up $0.09 during mid-day trading on Wednesday, reaching $67.09. The stock had a trading volume of 222,378 shares, compared to its average volume of 2,268,417. Doximity, Inc. has a twelve month low of $35.32 and a twelve month high of $85.21. The business has a 50 day simple moving average of $62.20 and a 200 day simple moving average of $60.12. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 67.11, 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, August 7th. The company reported $0.36 EPS 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%.Doximity's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, sell-side analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on DOCS. Bank of America lifted their price target on Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. The Goldman Sachs Group set a $50.00 price objective on shares of Doximity and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Canaccord Genuity Group boosted their target price on shares of Doximity from $50.00 to $59.00 and gave the company a "hold" rating in a report on Friday, August 8th. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Monday, June 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.21.

Insider Buying and Selling at Doximity

In other news, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Regina M. Benjamin sold 10,000 shares of the business'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 16,618 shares of the company's stock, valued at $997,080. This represents a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,000 shares of company stock worth $1,929,380. Insiders own 31.30% of the company's stock.

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.