J2 Capital Management Inc Invests $353,000 in Doximity, Inc. (NASDAQ:DOCS)

J2 Capital Management Inc purchased a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,087 shares of the company's stock, valued at approximately $353,000.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in shares of Doximity by 468.1% in the 4th quarter. Global Retirement Partners LLC now owns 534 shares of the company's stock worth $29,000 after buying an additional 440 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Doximity by 49.4% in the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors bought a new position in shares of Doximity in the 4th quarter worth $43,000. Kapitalo Investimentos Ltda bought a new position in shares of Doximity in the 4th quarter worth $50,000. Finally, Huntington National Bank increased its holdings in shares of Doximity by 1,440.8% in the 4th quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after buying an additional 1,023 shares during the last quarter. Institutional investors own 87.19% of the company's stock.

Insider Buying and Selling

In other news, CFO Anna Bryson sold 45,000 shares of Doximity stock in a transaction dated 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 in the company, valued at approximately $20,440,552.95. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the transaction, the director now owns 16,618 shares in the company, valued at $946,062.74. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Doximity Stock Down 1.2%

NASDAQ:DOCS traded down $0.62 during trading hours on Monday, reaching $51.47. 2,409,168 shares of the stock were exchanged, compared to its average volume of 2,103,282. The firm has a 50 day simple moving average of $55.12 and a 200-day simple moving average of $58.12. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The stock has a market capitalization of $9.61 billion, a P/E ratio of 51.47, a P/E/G ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 company's revenue for the quarter was up 17.1% on a year-over-year basis. As a group, analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of Doximity from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $31.00 to $78.00 in a research note on Friday, February 7th. Truist Financial cut their price objective on shares of Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, May 16th. KeyCorp cut their price objective on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Robert W. Baird dropped their price target 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 target on shares of Doximity and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Eleven investment 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.84.

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.