5,741 Shares in Doximity, Inc. (NASDAQ:DOCS) Acquired by Oak Thistle LLC

Key Points

• Oak Thistle LLC has acquired a new position in Doximity, purchasing 5,741 shares valued at approximately $333,000 during the first quarter.
• Doximity reported a 17.1% year-over-year revenue increase and earnings per share of $0.38, surpassing analysts' expectations of $0.27.
• Institutional investors hold a significant stake in Doximity, with 87.19% ownership among institutions and hedge funds.

Oak Thistle LLC bought a new stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 5,741 shares of the company's stock, valued at approximately $333,000.

Several other hedge funds have also recently added to or reduced their stakes in DOCS. Vanguard Group Inc. increased its position in Doximity by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 11,203,569 shares of the company's stock worth $598,159,000 after buying an additional 485,102 shares in the last quarter. FMR LLC increased its position in Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock worth $502,363,000 after purchasing an additional 2,571,580 shares in the last quarter. Geode Capital Management LLC increased its position in Doximity by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,952,442 shares of the company's stock worth $157,668,000 after purchasing an additional 95,458 shares in the last quarter. Renaissance Technologies LLC increased its position in Doximity by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,847,702 shares of the company's stock worth $98,649,000 after purchasing an additional 164,200 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in Doximity by 8.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,579,708 shares of the company's stock worth $84,341,000 after purchasing an additional 124,216 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DOCS. Truist Financial lifted their target price on shares of Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. The Goldman Sachs Group set a $50.00 target price on shares of Doximity and gave the company a "neutral" rating in a report on Wednesday, May 21st. Raymond James Financial lowered their target price on shares of Doximity from $83.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 16th. BTIG Research raised shares of Doximity from a "neutral" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Monday, June 2nd. Finally, Canaccord Genuity Group lowered their price objective on shares of Doximity from $71.00 to $50.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Ten research 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.89.

Insiders Place Their Bets

In other Doximity 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 sale, the chief financial officer owned 357,165 shares of the company's stock, valued at $20,440,552.95. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of Doximity stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 6,360 shares in the company, valued at $381,600. The trade was 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 sold 76,000 shares of company stock worth $4,400,970. 31.30% of the stock is owned by company insiders.

Doximity Trading Down 1.2%

DOCS stock traded down $0.74 during trading on Tuesday, hitting $60.27. The company had a trading volume of 207,168 shares, compared to its average volume of 2,356,623. The company has a market cap of $11.32 billion, a P/E ratio of 60.41, a P/E/G ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $85.21. The company has a fifty day moving average price of $57.82 and a two-hundred day moving average price of $59.69.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. Doximity had a net margin of 36.60% and a return on equity of 21.75%. Doximity's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. On average, analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current 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.