New York State Teachers Retirement System Purchases 11,078 Shares of Doximity, Inc. (NASDAQ:DOCS)

New York State Teachers Retirement System raised its holdings in Doximity, Inc. (NASDAQ:DOCS - Free Report) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,145 shares of the company's stock after purchasing an additional 11,078 shares during the quarter. New York State Teachers Retirement System owned 0.06% of Doximity worth $6,566,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Doximity by 196.6% in the 1st 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 in the last quarter. Range Financial Group LLC acquired a new stake in shares of Doximity during the 1st quarter valued at $916,000. Wells Fargo & Company MN boosted its holdings in shares of Doximity by 3.3% during the 4th quarter. Wells Fargo & Company MN now owns 368,941 shares of the company's stock valued at $19,698,000 after acquiring an additional 11,811 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Doximity by 214.2% during the 1st quarter. Bessemer Group Inc. now owns 1,398 shares of the company's stock valued at $81,000 after acquiring an additional 953 shares in the last quarter. Finally, Fundsmith LLP acquired a new stake in shares of Doximity during the 4th quarter valued at $37,934,000. Institutional investors and hedge funds own 87.19% of the company's stock.

Insiders Place Their Bets

In related news, Director Regina M. Benjamin sold 10,000 shares of the business's 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 sale, the director directly owned 16,618 shares of the company's stock, valued at $997,080. The trade was a 37.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $56.93, for a total value of $113,860.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, 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. In the last quarter, insiders sold 71,000 shares of company stock valued at $4,100,770. Insiders own 37.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DOCS shares. BTIG Research raised Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective on the stock in a report on Monday, June 2nd. Raymond James Financial cut their price objective on Doximity from $83.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Mizuho cut their price objective on Doximity from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, May 16th. Canaccord Genuity Group lowered their target price on Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Finally, William Blair reaffirmed an "outperform" rating on shares of Doximity in a research report on Friday, May 16th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Doximity presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.42.

Doximity Stock Performance

Shares of DOCS stock traded up $1.83 during mid-day trading on Wednesday, hitting $63.30. The company's stock had a trading volume of 1,906,742 shares, compared to its average volume of 2,173,063. The company's fifty day simple moving average is $57.13 and its 200-day simple moving average is $59.15. Doximity, Inc. has a 52 week low of $25.00 and a 52 week high of $85.21. The company has a market cap of $11.89 billion, a PE ratio of 63.30, a P/E/G ratio of 4.10 and a beta of 1.37.

Doximity (NASDAQ:DOCS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share 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 last year, the firm posted $0.25 earnings per share. The business's quarterly revenue was up 17.1% on a year-over-year basis. On average, equities analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current year.

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.