New York State Teachers Retirement System Has $6.57 Million Stock Position in Doximity, Inc. (NASDAQ:DOCS)

New York State Teachers Retirement System lifted its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,145 shares of the company's stock after buying an additional 11,078 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Doximity worth $6,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. QSV Equity Investors LLC increased its position in Doximity by 0.3% during the fourth quarter. QSV Equity Investors LLC now owns 60,763 shares of the company's stock worth $3,244,000 after acquiring an additional 186 shares during the period. Amalgamated Bank grew its position in shares of Doximity by 0.3% during the 1st quarter. Amalgamated Bank now owns 60,928 shares of the company's stock worth $3,536,000 after purchasing an additional 186 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Doximity by 49.4% during the 4th quarter. Larson Financial Group LLC now owns 756 shares of the company's stock worth $40,000 after purchasing an additional 250 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Doximity by 73.2% during the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Doximity by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,269 shares of the company's stock valued at $121,000 after buying an additional 332 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DOCS shares. Truist Financial reduced their price target on Doximity from $58.00 to $52.00 and set a "hold" rating on the stock in a research report on Friday, May 16th. Robert W. Baird reduced their target price on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Needham & Company LLC decreased their price target on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Bank of America upped their price objective on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Finally, Mizuho reduced their price objective on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, May 16th. Eleven investment 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.11.

Doximity Trading Down 1.4%

NASDAQ:DOCS traded down $0.85 during trading hours on Monday, hitting $60.84. 1,540,606 shares of the company were exchanged, compared to its average volume of 2,165,685. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 60.84, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. The company has a fifty day simple moving average of $56.84 and a 200 day simple moving average of $59.08. Doximity, Inc. has a one year low of $25.00 and a one year high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.38 EPS for the quarter, beating 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%. Doximity's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Equities research analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Regina M. Benjamin sold 10,000 shares of Doximity stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 16,618 shares of the company's stock, valued at approximately $997,080. This trade represents a 37.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the director directly owned 6,360 shares in the company, valued at $381,600. This represents a 61.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,000 shares of company stock valued at $4,100,770. 37.40% of the stock is owned by corporate insiders.

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.