MRA Advisory Group Invests $505,000 in Doximity, Inc. (NASDAQ:DOCS)

MRA Advisory Group bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,695 shares of the company's stock, valued at approximately $505,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in 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 grew its position in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after acquiring an additional 250 shares during the last quarter. Optimum Investment Advisors bought a new position in shares of Doximity in the fourth quarter worth $43,000. Kapitalo Investimentos Ltda bought a new stake in shares of Doximity during the 4th quarter worth about $50,000. Finally, Huntington National Bank raised its holdings in Doximity by 1,440.8% during the fourth quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $58,000 after purchasing an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on DOCS. Morgan Stanley cut their target price on shares of Doximity from $71.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Needham & Company LLC dropped their price target on Doximity from $82.00 to $67.00 and set a "buy" rating for the company in a report on Friday, May 16th. Canaccord Genuity Group decreased their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a report on Friday, May 16th. Finally, KeyCorp cut their target price on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $62.84.

Doximity Stock Performance

DOCS stock traded down $0.91 on Monday, hitting $57.94. 2,932,566 shares of the company's stock were exchanged, compared to its average volume of 2,132,275. The firm has a 50 day moving average price of $54.72 and a two-hundred day moving average price of $58.29. The stock has a market cap of $10.88 billion, a P/E ratio of 57.94, 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.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 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%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. Sell-side analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current fiscal 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.