Natixis Advisors LLC Grows Position in Doximity, Inc. (NASDAQ:DOCS)

Key Points

• Natixis Advisors LLC increased its holdings in Doximity, Inc. by 17.7%, owning 42,223 shares worth $2.45 million following the purchase of an additional 6,341 shares in the first quarter.
• Insider sales included Director Regina M. Benjamin selling 5,000 shares for approximately $300,200, reflecting a 23.13% decrease in her position, while another director sold 2,000 shares.
• Doximity's stock price rose by 13.9% to $66.71, with a market capitalization of $12.53 billion and a consensus rating of "Moderate Buy" from analysts.

Natixis Advisors LLC boosted its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,223 shares of the company's stock after buying an additional 6,341 shares during the quarter. Natixis Advisors LLC's holdings in Doximity were worth $2,450,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC acquired a new position in shares of Doximity in the first quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Doximity by 196.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,570 shares of the company's stock valued at $787,000 after purchasing an additional 8,995 shares during the last quarter. Range Financial Group LLC acquired a new position in shares of Doximity in the first quarter valued at approximately $916,000. New York State Teachers Retirement System grew its position in shares of Doximity by 10.9% in the first quarter. New York State Teachers Retirement System now owns 113,145 shares of the company's stock valued at $6,566,000 after purchasing an additional 11,078 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position 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 last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Doximity Trading Down 1.4%

NASDAQ:DOCS traded down $0.88 during trading hours on Tuesday, hitting $60.95. 739,832 shares of the company were exchanged, compared to its average volume of 2,359,830. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 61.06, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36. Doximity, Inc. has a one year low of $34.34 and a one year high of $85.21. The company has a fifty day simple moving average of $59.41 and a 200 day simple moving average of $60.10.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (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%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. Equities research analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James Financial upped their target price on Doximity from $65.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday. BTIG Research raised Doximity from a "neutral" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Monday, June 2nd. Wells Fargo & Company upped their target price on Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Evercore ISI raised Doximity from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $50.00 to $70.00 in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group set a $50.00 price target on Doximity and gave the stock a "neutral" rating in a research report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Doximity has an average rating of "Moderate Buy" and a consensus price target of $66.21.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the director directly owned 6,360 shares in the company, valued at approximately $381,600. This represents a 61.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kira Scherer Wampler sold 2,000 shares of the 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 owned 16,618 shares in the company, valued at $948,721.62. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,000 shares of company stock worth $2,140,940. 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.